Stock Symbol: AEM (NYSE and TSX)

(All amounts expressed in U.S. dollars unless otherwise noted)

TORONTO, Feb. 15, 2024 /CNW/ - Agnico Eagle Mines Limited (NYSE: AEM) (TSX: AEM) ("Agnico Eagle" or the "Company") is pleased to provide an update on year-end 2023 mineral reserves and mineral resources, exploration activities at mine sites and select advanced projects in 2023 and the exploration plan and budget for 2024. The Company's exploration focus remains on extending mine life at existing operations, testing near-mine opportunities and advancing key value driver projects.

"The Company's ambitious exploration program in 2023 and continuing into 2024 is yielding exciting results. At Detour Lake, step-out drilling suggests potential for an underground operation and, together with optimization of the current open pits and mill, bringing the Detour Lake mine to a production rate of one million ounces per year. At Odyssey, step-out drilling continues to significantly extend the East Gouldie deposit to the west and east. At Hope Bay, drill results confirm the expansion of the Madrid deposit at depth with wide high grade intercepts, in line with our expectations for the exploration upside of this project," said Guy Gosselin, Agnico Eagle's Executive Vice-President, Exploration. "In addition, we continue to generate significant exploration results elsewhere across our portfolio, including Fosterville, Amaruq, Macassa and Kittila. These positive results demonstrate the success of our strategy, and we will continue the steady funding of our exploration efforts in 2024 as we aim to grow the deposits at existing operations and to realize the potential of the key projects in the Company's pipeline," added Mr. Gosselin.

Highlights from 2023 include:

  • Gold mineral reserves increase to record level Year-end 2023 gold mineral reserves increased by 10.5% to 53.8 million ounces of gold (1,287 million tonnes grading 1.30 grams per tonne ("g/t") gold). The year-over-year increase in mineral reserves is largely due to the declaration of initial mineral reserves at East Gouldie, the acquisition of the remaining 50% interest in the Canadian Malartic complex and mineral reserve replacement at Macassa and Fosterville. At year-end 2023, measured and indicated mineral resources were 44.0 million ounces (1,189 million tonnes grading 1.15 g/t gold) and inferred mineral resources were 33.1 million ounces (411 million tonnes grading 2.50 g/t gold), including initial underground inferred mineral resources at Detour Lake
  • Detour Lake – The Company's exploration success outside of the mineral resource open pit continued, with results of up to 24.8 g/t gold over 7.4 metres at 420 metres depth approximately 860 metres west of the mineral resource open pit. An initial underground inferred mineral resource was declared below and to the west of the existing pit, totalling 1.56 million ounces of gold (21.8 million tonnes grading 2.23 g/t gold). Exploration in 2024 is expected to continue to test and extend the west plunge of the main deposit. The Company expects to provide an update on the Detour underground project and ongoing exploration results in the first half of 2024
  • Odyssey mine at the Canadian Malartic complex – Initial mineral reserves of 5.17 million ounces of gold (47.0 million tonnes grading 3.42 g/t gold) were declared in the central portion of the East Gouldie deposit at year-end 2023. Successful exploration over the past year has extended the limits of the East Gouldie inferred mineral resource laterally to the west by 870 metres, with results of up to 6.2 g/t gold over 6.7 metres at 1,299 metres depth. Recent drilling continues to return good results towards the east with results of up to 6.7 g/t gold over 13.5 metres at 1,467 metres depth and 140 metres to the east of the current mineral resources outline. Inferred mineral resources at the East Gouldie deposit were 3.3 million ounces of gold (45.2 million tonnes grading 2.29 g/t gold)
  • Hope Bay – Exploration drilling in 2023 totalled more than 125,000 metres, with work focused on the Madrid and Doris deposits. At the Madrid deposit, the target area in the gap between the Suluk and Patch 7 zones delivered strong drill results in the quarter, including 16.3 g/t gold over 28.6 metres at 385 metres depth and 12.7 g/t gold over 4.6 metres at 677 metres depth. Results confirm the potential to expand gold mineralization in the Madrid deposit at depth and along strike to the south. Based on recent exploration success, the Company is evaluating a larger potential production scenario for Hope Bay. The Company expects to report results from this internal technical evaluation in 2025
  • Fosterville – Continued exploration success in the Robbins Hill and Lower Phoenix areas and improved mining parameters led to full replacement of 2023 production. Mineral reserves are stable year-over-year at 1.7 million ounces of gold (8.6 million tonnes grading 6.10 g/t gold). The lower average grade of the mineral reserves compared to year-end 2022 is the result of the depletion of the high grade Swan Zone that has been replaced mostly by lower grade mineral reserves from the Robbins Hill area
  • Amaruq – Positive grade reconciliation led to adjustments in the ore zone model and mineral reserve estimation parameters, resulting in a new proven and probable mineral reserve estimate of 1.8 million ounces of gold (15.4 million tonnes grading 3.72 g/t gold). Based on these results, the Company has approved an extension to the IVR open pit, which is expected to contribute approximately 70,000 ounces of gold to the 2026 production profile and extend the mine life to 2028 (previous mine life was 2026). Exploration also continued to return significant mineralization at depth, with results up to 11.3 g/t gold over 6.4 metres at 979 metres depth
  • Macassa – Continued exploration success in the Main Break and the South Mine Complex ("SMC") zones contributed to growth in proven and probable mineral reserves at Macassa to 2.0 million ounces gold (4.2 million tonnes grading 14.45 g/t gold), and in the Amalgamated Kirkland ("AK") deposit to 160,000 ounces of gold (742,000 tonnes grading 6.69 g/t gold), with drill results in AK of up to 25.0 g/t gold over 5.0 metres at 365 metres depth
  • Kittila – Exploration in 2023 identified an underexplored, parallel mineralized structure named the East Zone located in the Suuri area at shallow depth, approximately 140 metres east of the mine's producing Main Zone and outside current mineral resources. Recent drilling in the East Zone returned an intersection of 11.5 g/t gold over 7.8 metres at 204 metres depth
  • Exploration budget – The Company has budgeted $259.0 million for expensed and capitalized exploration and $77.7 million for studies and other expenses in 2024. The Company's exploration focus remains on extending mine life at existing operations, testing near-mine opportunities and advancing key value driver projects. Priorities for 2024 include drilling the deeper portions of the Detour Lake deposit, increasing exploration at the Canadian Malartic camp to extend known deposits and identify new mineralized zones to optimize utilization of the Canadian Malartic processing facility in the future, and continuing large exploration programs at other operating assets and Hope Bay

GOLD MINERAL RESERVES

At December 31, 2023, the Company's proven and probable mineral reserve estimate totalled 53.8 million ounces of gold (1,287 million tonnes grading 1.30 g/t gold). This represents a 10.5% (5.1 million ounce) increase in contained ounces of gold compared to the proven and probable mineral reserve estimate of 48.7 million ounces of gold (1,186 million tonnes grading 1.28 g/t gold) at year-end 2022 (see the Company's news release dated February 16, 2023 for details regarding the Company's December 31, 2022 proven and probable mineral reserve estimate).

The year-over-year increase in mineral reserves at December 31, 2023 is largely due to a substantial new mineral reserve addition of 5.2 million ounces of gold at the East Gouldie deposit at the Odyssey mine. The acquisition of the remaining 50% interest in the Canadian Malartic complex as part of the acquisition of Yamana Gold Inc.'s Canadian assets on March 31, 2023 (the "Yamana Transaction") also contributed to adding 1.5 million ounces of gold in mineral reserves.

In Zacatecas State in central Mexico, the San Nicolás volcanogenic hosted massive sulphide deposit is jointly owned by the Company and Teck Resources Limited. As at December 31, 2023, the Company has reported 52.6 million tonnes of proven and probable mineral reserves grading 0.40 g/t gold, 22.28 g/t silver, 1.12% copper and 1.48% zinc, containing 0.7 million ounces of gold, 37.7 million ounces of silver, 592,000 tonnes of copper and 777,000 tonnes of zinc (each reported on a 50% basis) at San Nicolás.

Mineral reserves were calculated using a gold price of $1,400 per ounce for all operating assets, except the Detour Lake open pit for which a gold price of $1,300 per ounce was used, and using variable assumptions for the pipeline projects. For detailed mineral reserves and mineral resources ("MRMR") data, including the economic parameters used to estimate the mineral reserves and mineral resources and by-product silver, copper and zinc at several mines and advanced projects, see "Detailed Mineral Reserve and Mineral Resource Data (as at December 31, 2023)" and "Assumptions used for the December 31, 2023 mineral reserve and mineral resource estimates reported by the Company" below.

The ore extracted from the Company's mines in 2023 contained 3.72 million ounces of gold in-situ (61.8 million tonnes grading 1.88 g/t gold). This includes the Company's 50% share of the production up to March 30, 2023 at the Canadian Malartic complex prior to the closing of the Yamana Transaction.

The variance in the Company's proven and probable mineral reserves from December 31, 2022 to December 31, 2023 is set out in the chart below.

December 31, 2023 - Global Variance Proven and Probable Mineral Reserves (CNW Group/Agnico Eagle Mines Limited)

The Company's gold mineral reserves as at December 31, 2023 are set out in the table below, and are compared with the gold mineral reserves as at December 31, 2022. Data in this table and certain other data in this news release have been rounded to the nearest thousand and discrepancies in total amounts are due to rounding.









Gold Mineral Reserves

By Mine / Project*

Proven & Probable Gold Mineral
Reserve (000s oz.)

Average Mineral Reserve Gold Grade
(g/t)


2023

2022

Change

2023

2022

Change


LaRonde mine

2,244

2,515

-271

6.4

6.36

0.04


LaRonde Zone 5

636

710

-74

2.2

2.12

0.08


LaRonde complex

2,880

3,225

-345

4.51

4.42

0.09


Canadian Malartic mine**

2,436

1,505

931

0.83

0.9

-0.07


Odyssey deposits**

310

98

211

2.17

2.22

-0.05


East Gouldie deposit**

5,173

0

5,173

3.42




Canadian Malartic complex**

7,919

1,603

6,315

1.73

0.93

0.8


Goldex

901

962

-61

1.59

1.62

-0.03


Akasaba West

143

147

-4

0.89

0.84

0.05


Detour Lake (at or above 0.5 g/t)

16,594

17,253

-659

0.93

0.93

0


Detour Lake (below 0.5 g/t)

3,335

3,431

-96

0.39

0.39

0


Detour Lake total

19,928

20,683

-755

0.76

0.76

0


Macassa

1,954

1,797

157

14.45

17.2

-2.75


Macassa Near Surface

23

16

7

5.93

5.31

0.62


AK deposit

160

100

60

6.69

5.2

1.49


Macassa total

2,136

1,913

224

13.11

15.11

-2.00


Upper Beaver

1,395

1,395

5.43

5.43

0


Hammond Reef

3,323

3,323

0.84

0.84

0


Amaruq

1,837

2,164

-327

3.72

4.05

-0.33


Meadowbank complex

1,837

2,164

-327

3.72

4.05

-0.33


Meliadine

3,467

3,766

-299

5.91

6.02

-0.11


Hope Bay

3,397

3,409

-12

6.52

6.5

0.02


Fosterville

1,682

1,677

4

6.1

7.95

-1.85


Kittila

3,584

3,683

-100

4.14

4.2

-0.06


Pinos Altos

546

665

-118

1.9

2.01

-0.11


San Nicolás (50%)

672

0

672

0.4




La India

0

81

-81


0.76



Total Mineral Reserves

53,811

48,697

5,114

1.3

1.28

0.02












* Ownership of mines and projects is 100% unless otherwise indicated. Where Agnico Eagle's interest is less than 100%, the stated mineral reserves reflect the Company's interest.

** Agnico Eagle's ownership of the Canadian Malartic complex increased to 100% on December 31, 2023 from 50% on December 31, 2022 as a result of the Yamana Transaction which closed on March 30, 2023.

 Agnico Eagle has agreed to subscribe for a 50% interest in the San Nicolás project, which will be contributed as study and development costs are incurred and, accordingly, Agnico Eagle's share of the reported MRMR at the San Nicolás project is reported at a 50% level.

The Company estimates that at a gold price 10% higher than the assumed gold price (leaving other assumptions unchanged), there would be an approximate 17% increase in the gold contained in proven and probable mineral reserves. Conversely, the Company estimates that at a gold price 10% lower than the assumed gold price (leaving other assumptions unchanged), there would be an approximate 11% decrease in the gold contained in proven and probable mineral reserves.

GOLD MINERAL RESOURCES

At December 31, 2023, the Company's measured and indicated mineral resource estimate totalled 44.0 million ounces of gold (1,189 million tonnes grading 1.15 g/t gold). This represents a 0.6% (0.3 million ounce) decrease in contained ounces of gold compared to the measured and indicated mineral resource estimate at year-end 2022 (see the Company's news release dated February 16, 2023 for details regarding the Company's December 31, 2022 measured and indicated mineral resource estimate).

The year-over-year decrease in measured and indicated mineral resources is primarily due to the upgrade of mineral resources at East Gouldie to mineral reserves, largely offset by the successful conversion of inferred mineral resources into measured and indicated mineral resources and the acquisition of the remaining 50% interest in the Canadian Malartic complex and the Wasamac project as a result of the Yamana Transaction.

At December 31, 2023, the Company's inferred mineral resource estimate totalled 33.1 million ounces of gold (411 million tonnes grading 2.50 g/t gold). This represents a 26% (6.8 million ounce) increase in contained ounces of gold compared to the inferred mineral resource estimate a year earlier (see the Company's news release dated February 16, 2023 for details regarding the Company's December 31, 2022 inferred mineral resource estimate).

The year-over-year increase in inferred mineral resources is primarily due to the acquisition of the remaining 50% interest in the Canadian Malartic complex and the Wasamac project as part of the Yamana Transaction as well as an initial underground inferred mineral resource at Detour Lake.

The Company's gold mineral resources as at December 31, 2023 are set out in the table below.

Operation / Project*

Measured & Indicated

Inferred

Gold Mineral Resources

Gold Mineral Resources

Contained Gold

Gold Grade

Contained Gold

Gold Grade

(000 oz.)

(g/t)

(000 oz.)

(g/t)

LaRonde mine

632

3.06

286

5.67

LaRonde Zone 5

774

2.27

1,134

3.38

LaRonde complex

1,407

2.57

1,420

3.68

Canadian Malartic

214

0.81

Odyssey

75

1.71

1,453

2.29

East Malartic

731

2.04

4,480

2.12

East Gouldie

244

1.56

3,331

2.29

Canadian Malartic complex

1,050

1.88

9,477

2.12

Goldex

1,646

1.64

871

1.68

Akasaba West

91

0.7

Wasamac

2,173

2.43

789

2.66

Detour Lake

17,955

0.77

2,717

1.05

Detour Lake Zone 58N

534

5.8

136

4.35

Detour Lake total

18,489

0.79

2,853

1.09

Macassa

598

8.58

1,094

9.21

Macassa Near Surface

13

6.14

28

6.62

AK deposit

37

6.95

52

5.69

Macassa total

647

8.4

1,173

8.89

Anoki-McBean

349

2.77

107

3.84

Upper Beaver

403

3.45

1,416

5.07

Upper Canada

722

2.15

1,863

3.11

Hammond Reef

2,298

0.54

Aquarius

1,106

1.49

14

0.87

Holt complex

1,699

4.52

1,310

4.48

Amaruq

1,600

3.74

623

4.65

Meliadine

1,629

4

2,222

6.22

Hope Bay

1,255

3.64

2,108

5.41

Fosterville

1,512

4.05

1,461

4.54

Northern Territory

1,668

2.38

1,376

2.4

Kittila

1,687

2.93

1.067

5.06

Barsele (55%)

176

1.27

1,005

1.98

Pinos Altos

685

1.83

104

1.73

La India

88

0.52

1

0.4

Tarachi

361

0.58

4

0.52

Chipriona

326

0.92

21

0.66

El Barqueño Gold

331

1.16

351

1.13

San Nicolás (50%)

20

0.19

10

0.13

Santa Gertrudis

563

0.91

1,433

2.36

Total Mineral Resources

43,981

1.15

33,080

2.5

* Ownership of mines and projects is 100% unless otherwise indicated. Where Agnico Eagle's interest is less than 100%, the stated mineral resources reflect the Company's interest.

 Agnico Eagle has agreed to subscribe for a 50% interest in the San Nicolás project, which will be contributed as study and development costs are incurred and, accordingly, Agnico Eagle's share of the reported MRMR at the San Nicolás project is reported at a 50% level

The economic parameters used to estimate mineral reserves and mineral resources for all properties are set out below.

Assumptions used for the December 31, 2023 mineral reserve and mineral resource estimates reported by the Company

Metal Price for Mineral Reserve Estimation*

Gold (US$/oz)

Silver (US$/oz)

Copper (US$/lb)

Zinc (US$/lb)

$1,400

$18

$3.50

$1.00

Exceptions: US$1,300 per ounce of gold used for Detour Lake; US$1,350 per ounce of gold used for Hope Bay and Hammond Reef; US$1,200 per ounce of gold and US$2.75 per pound of copper used for Upper Beaver; and US$1,300 per ounce of gold, US$20.00 per ounce of silver, US$3.00 per pound of copper and US$1.10 per pound of zinc used for San Nicolás.

Metal Price for Mineral Resource Estimation*

Gold

(US$/oz)

Silver

(US$/oz)

Copper

(US$/lb)

Zinc

(US$/lb)

$1,650

$22.50

$3.75

$1.25

* Exceptions: US$1,500 per ounce of gold used for Detour Lake open pit, Northern Territory and Holt complex; US$1,300 per ounce of gold used for Detour Lake Zone 58N; US$1,400 per ounce of gold used for Canadian Malartic, US$1,688 per ounce of gold used for Hope Bay, Santa Gertrudis and Hammond Reef; US$1,667 per ounce of gold used for Upper Canada, El Barqueño; US$1,200 per ounce of gold and US$2.75 per pound of copper used for Upper Beaver; US$1,533 per ounce of gold used for Barsele; US$500 per ounce of gold used for Aquarius, US$22.67 per ounce of silver used for El Barqueño; US$1,687 per ounce of gold used for Anoki-McBean and Tarachi; US$25.00 per ounce of silver used for Santa Gertrudis; and US$1,300 per ounce of gold, US$20.00 per ounce of silver, US$3.00 per pound of copper and US$1.10 per pound of zinc used for San Nicolás.

Exchange rates*

C$ per US$1.00

Mexican peso per US$1.00

AUD per US$1.00

US$ per €1.00

$1.30

MXP18.00

AUD1.36

EUR1.10

* Exceptions: exchange rate of CAD$1.25 per US$1.00 used for Upper Beaver, Upper Canada, Holt complex and Detour Lake Zone 58N; CAD$1.11 per US$1.00 used for Aquarius; US$1.00 per EUR $1.15 used for Barsele; and MXP17.00 per US$1.00 used for Tarachi.

The above metal price assumptions are below the three-year historic average (from January 1, 2021 to December 31, 2023) of approximately $1,853 per ounce of gold, $23.50 per ounce of silver, $4.03 per pound of copper and $1.38 per pound of zinc.

2024 EXPLORATION BUDGET

The Company has budgeted $336.7 million for exploration expenditures and project expenses in 2024, comprised of $151.1 million for expensed exploration, $107.9 million for capitalized exploration and $77.7 million for project studies, technical services and other corporate expenses.

The Company's exploration focus remains on extending mine life at existing operations, testing near-mine opportunities and advancing key value driver projects. Exploration priorities for 2024 include drilling the western and deep extension of the Detour Lake deposit to assist in the optimization of the open pit operations and to further advance a potential underground mining scenario, growing the underground mineral reserve and mineral resource at the Odyssey mine and continuing large exploration programs at other operating assets and Hope Bay.

The Company's exploration and corporate development budget for 2024 is set out below. The exploration plans and more detailed budgets for individual mines and projects are set out further below, organized by region.

2024 Exploration Program and Corporate Development Budget


Expensed Exploration

Capitalized Exploration




Sustaining

Non-Sustaining



(000s $)

(000s m)

(000s $)

(000s $)

(000s m)

Quebec






LaRonde complex

$       8,100

35.4

$              2,300

$                  —

14.8

Canadian Malartic complex

13,300

70.6

7,100

66.4

Goldex

2,200

18.4

2,900

22.0

Quebec regional

7,100

39.7







Ontario






Detour Lake

7,400

40.0

20,300

120.0

Macassa

2,000

32,900

161.9

Ontario regional and projects

13,500

19.4

1,600







Nunavut






Meliadine

5,400

13,200

77.7

Meadowbank complex

1,900

6.8

Hope Bay

22,000

50.0

Nunavut regional

12,700

22.0







Australia






Fosterville

11,700

36.5

10,900

38.7

Northern Territory

4,600

10.8







Europe






Kittila

4,700

18.5

1,800

5,300

51.5

Europe regional

7,100

12.6







Mexico






Pinos Altos

2,500

10.0

1,800

400

10.7

Mexico regional

13,400

6.0







USA

7,000

5.4

Joint Ventures & Other

5,600

8.4

G&A

6,100

Total Exploration

$   151,100

410.5

$            16,200

$           91,700

563.7

Hope Bay - Other Expenditures

12,200





Other Project Studies

20,900



Total Corporate Development and Technical Services

44,600



Total Exploration and Project Expenses

$   228,800


$            16,200

$           91,700


ABITIBI REGION – QUEBEC

CANADIAN MALARTIC COMPLEX

MRMR Highlights

The strong growth in mineral reserves at the Odyssey mine at year-end 2023 is largely due to successful conversion drilling in the East Gouldie deposit, the completion of an internal study and infill drilling which increased the proven and probable mineral reserves by 5.2 million ounces of gold (47 million tonnes grading 3.42 g/t gold) as at December 31, 2023. An additional 150,000 ounces of gold in the mineral reserves are attributed to the Odyssey South deposit and the Odyssey internal zones as the understanding of these two mineralized areas continues to improve with ongoing drilling and mine development.

The Canadian Malartic open pit mine saw an increase of approximately 122,000 ounces of gold in proven and probable mineral reserves (reflecting the Company's 100% interest). The increase is due to the completion of the Yamana Transaction combined with a review of the model using the positive reconciliation performance, that was offset by 695,400 ounces of gold mined in situ (100% interest) in the Barnat pit and the now-depleted Canadian Malartic pit.

The acquisition of the remaining 50% interest in the Canadian Malartic complex as a result of the Yamana Transaction also contributed to adding 1.5 million ounces of gold in mineral reserves, 3.1 million ounce of gold in measured and indicated mineral resources and 4.7 million ounces of gold in inferred mineral resources at the Canadian Malartic complex.

At East Gouldie, new inferred mineral resources of 1.7 million ounces of gold were added through exploration drilling, offset by 1 million ounces of gold converted to measured and indicated mineral resources and the alignment of gold prices with the Company's assumptions. At year-end 2023, inferred mineral resources at East Gouldie totalled 3.3 million ounces of gold (45.2 million tonnes grading 2.29 g/t gold).

2023 Exploration Highlights

At the Odyssey mine in 2023, exploration drilling totalled 131,565 metres, which exceeded the budget of 101,500 metres after the program was augmented mid-year by a supplemental budget for 25,000 metres of additional drilling.

Exploration drilling at the Odyssey mine in 2023 continued to focus on three objectives: infill drilling of the Odyssey South deposit and the adjacent Odyssey internal zones; investigating lateral extensions to the west and to the east along the favourable East Gouldie mineralized corridor to grow the inferred mineral resources at East Gouldie; and adding holes in the planned upper mining levels in the East Gouldie deposit to further de-risk the project.

Selected recent drill intercepts from the Odyssey mine are set out in the composite longitudinal section below and in a table in the Appendix.

[Odyssey mine – Composite Longitudinal Section]

[Odyssey mine – Composite Cross Section and Composite Longitudinal Section of Odyssey Deposits]

Recent drilling highlights from Odyssey South and the internal zones include: 4.2 g/t gold over 6.8 metres at 383 metres depth in hole MEV23-293 in the shallow, western portion of Odyssey South; 6.8 g/t gold over 12.6 metres (core length) at 478 metres depth in hole UGOD-016-176 in the Odyssey internal zones; and 3.0 g/t gold over 14.3 metres (core length) at 374 metres depth in hole UGOD-016-199.

The continued positive results from the Odyssey internal zones show the potential with further drilling to add mineral resources at shallow depth near existing underground mine infrastructure.

Hole MEX22-251RWZ intersected 2.2 g/t gold over 50 metres at 1,659 metres depth, demonstrating the thickness of mineralization encountered in the lower portion of the East Gouldie mineral reserves.

In the program to extend the East Gouldie deposit laterally, drilling highlights include 5.0 g/t gold over 15.9 metres at 1,355 metres depth in hole MEX23-304 and 6.2 g/t gold over 6.7 metres at 1,299 metres depth in hole MEX23-304Z, with the intersections located approximately 300 metres and 200 metres laterally to the west, respectively, of the western limit of the current inferred mineral resources at East Gouldie. Drilling in the eastern portion of the East Gouldie corridor intersected 6.7 g/t gold over 13.5 metres at 1,467 metres depth in hole MEX23-305Z, approximately 140 metres east of the inferred mineral resources at East Gouldie. The holes demonstrate the potential to add inferred mineral resources laterally at East Gouldie with further drilling into these extensions of mineralization.

2024 Exploration Plan and Budget

The Company expects to spend approximately $20.4 million for 137,000 metres of drilling at the Canadian Malartic complex in 2024. Exploration at the Odyssey mine includes $12.9 million for 102,500 metres of drilling with five objectives: continued conversion drilling of East Gouldie inferred mineral resources to indicated mineral resources; testing the immediate extensions of East Gouldie; continued conversion drilling of the Odyssey South deposit inferred mineral resources to indicated mineral resources; further investigating the Odyssey internal zones; and converting inferred mineral resources to indicated mineral resources in the Odyssey North deposit.

The remaining $7.5 million is planned to be spent on 34,500 metres of exploration drilling into prospective gold targets along the Barnat and East Gouldie mineralized corridors on the Canadian Malartic, Rand Malartic and Midway properties. The composite longitudinal section below shows the mineral exploration potential at the Company's properties in the Malartic camp, from East Amphi to the historic Malartic Goldfields mine.

Following the consolidation of 100% interests in properties along this prospective 16 kilometre portion of the Cadillac-Larder Lake deformation zone, the Company envisions increasing its exploration efforts along the belt from surface and eventually from underground to test the full potential of this area. The strategy is similar to the one that the Company has employed successfully around the LaRonde mine since the 1980s.

[Malartic Camp – Composite Longitudinal Section Showing Mineral Exploration Potential from East Amphi to to Malartic Goldfields]

WASAMAC

The Wasamac gold project was acquired on March 31, 2023, as part of the Yamana Transaction. The Wasamac deposit is characterized by shear hosted disseminated pyrite mineralization within an albite-sericite-carbonate alteration zone that ranges in thickness from a few metres up to 30 metres within the 50 to 55 degree, north-dipping Wasa Shear.

MRMR Highlights

The measured and indicated mineral resource estimate at year-end 2023 for the Wasamac project totalled 2.2 million ounces of gold (27.8 million tonnes grading 2.43 g/t) and inferred mineral resources were 0.8 million ounces of gold (9.2 million tonnes grading 2.66 g/t).

This is the first estimate of mineral resources at Wasamac published by Agnico Eagle. The Company continues to assess various scenarios regarding optimal mining rates and milling strategies for possible mine construction at the project. While these evaluations continue, the Company has decided to not include the historical mineral reserve estimate at Wasamac into the Company's mineral reserve estimate. Rather, the Company has classified the Wasamac project entirely as mineral resources.

2023 Exploration Highlights

At the Wasamac project in 2023, exploration drilling of 16,600 metres was completed by Agnico Eagle after the closing of the Yamana Transaction. The full-year program, including drilling by the previous owner, was comprised of infill and conversion drilling of the main Wasamac deposit (19,000 metres for 27 holes) and exploration drilling at the Francoeur area (6,400 metres for 15 holes) and the Wildcat area (5,800 metres for 13 holes), for a total of 31,200 metres in 55 holes drilled during the full year.

Selected recent drill intercepts from the Wasamac project are set out in the composite longitudinal section below and in a table in the Appendix.

[Wasamac Project – Plan Map and Composite Longitudinal Section of Wasamac deposit]

Recent highlights from the exploration program at the Wasamac deposit include 4.9 g/t gold over 13.4 metres (core length) at 590 metres depth in hole WS23-666; 2.8 g/t gold over 18.8 metres at 565 metres depth in hole WS23-663 in the Main Zone; and 4.4 g/t gold over 3.9 metres at 484 metres depth in hole WS23-634 in zones 3 and 4.

At Francoeur, hole FS23-129 targeted the eastern extension of the Francoeur shear related to the Horne-Creek fault and returned 4.5 g/t gold over 5.3 metres (core length) at 324 metres depth.

At Wildcat, highlight hole WS23-661 returned 3.6 g/t gold over 20.6 metres (core length) at 44 metres depth and 5.6 g/t gold over 4.1 metres (core length) at 123 metres depth; and hole WS23-653 returned 3.4 g/t gold over 5.4 metres (core length) at 267 metres depth.

2024 Exploration Plan and Budget

The Company expects to spend approximately $2.8 million for 16,700 metres of drilling at the Wasamac project in 2024 as part of a larger Quebec regional exploration budget totalling $7.1 million for 39,700 metres. The program at Wasamac will focus on exploring the eastern extension of the Wasamac deposit in the Wasa shear zone. At Francoeur, drilling will focus on the Francoeur shear to explore for broader zones of mineralization similar to the Wasamac deposit. At Wildcat, the interpreted lateral extensions of the mineralization will be tested to confirm and improve the geological interpretation.

As part of the Company's Abitibi platform optimization program, the Company continues to assess various scenarios regarding the mining rates and milling strategies for the project.

LARONDE COMPLEX

2023 Exploration Highlights

At the LaRonde Zone 5 ("LZ5") and LaRonde mines at the LaRonde complex in 2023, exploration drilling totalled 41,300 metres, with eight drill rigs operating underground and two operating from surface.

Selected recent drill intercepts from the LaRonde complex are set out in the composite longitudinal section below and in a table in the Appendix.

[LaRonde Complex – Composite Longitudinal Section]

Exploration drilling in the western depth extension of the LZ5 deposit on the Ellison property returned highlights of 1.8 g/t gold over 24.8 metres at 686 metres depth in hole BZ-2023-007; 3.0 g/t gold over 26.4 metres at 627 metres depth in hole BZ-2023-007A; and 2.1 g/t gold over 16.8 metres at 857 metres depth in hole BZ-2023-026. These results demonstrate the continuity of mineralization at depth and to the west of the current mineral reserves and mine workings at the LZ5 mine.

Further progress was made in 2023 in rehabilitating Level 9 and extending the exploration drift at Level 215 to provide additional drill platforms to test the vertical extensions of known zones on the Bousquet property and below the LZ5 deposit.

2024 Exploration Plan and Budget

The Company expects to spend approximately $10.4 million for 50,200 metres of drilling at the LaRonde complex in 2024, including $2.3 million for 14,800 metres of capitalized drilling and $8.1 million for exploration drift development and 35,400 metres of exploration drilling into targets, including Zone 20N East and West mines, Zone 3-1, Zone 3-4, Zone 4 and Zone 5, with the aim of adding new mineral reserves and mineral resources to extend expected mine life further into the 2030s.

The planned work program above includes $2.7 million budgeted for further extension of the exploration drift on Level 215 by 450 metres to the west.

GOLDEX

MRMR Highlights

At the Goldex mine, positive results from drilling in the Deep 2, South zones and western part of the Main Zone during 2023 have added 99,000 ounces of gold in mineral reserves, replacing in part the mining of 161,000 ounces of in-situ gold for 2023.

2023 Exploration Highlights

At the Goldex mine in 2023, exploration drilling targeted mainly the W Zone, which is the extension of the Goldex diorite host rock and is located approximately 200 metres west of the main deposit at relatively shallow depths compared to the current mine workings. A total of 13,408 metres were drilled into the W Zone in 2023 with highlights including: 1.2 g/t gold over 35.0 metres at 476 metres depth in hole GD27-053; 1.5 g/t gold over 45.0 metres at 591 metres depth in hole GD27-056; and 1.1 g/t gold over 42.0 metres at 607 metres depth in hole GD27-063.

Exploration at the W Zone could lead to the addition of mineral resources in the near future should exploration drilling continue to be successful.

2024 Exploration Plan and Budget

The Company expects to spend approximately $5.1 million for 40,400 metres of drilling at Goldex in 2024, including $2.9 million on capitalized drilling mainly focused on the conversion and extension of Sector 3 in the South Zone. The remaining $2.2 million is budgeted for 18,400 metres of exploration drilling, including 15,400 metres to test and extend the W Zone mineralization to the west and at depth; 2,000 metres drilled at the nearby Mine École target; and 1,000 metres drilled to the west of the G Zone.

ABITIBI REGION – ONTARIO

DETOUR LAKE

MRMR Highlights

An initial underground inferred mineral resource was declared below and to the west of the existing pit, totalling 1.56 million ounces of gold (21.8 million tonnes grading 2.23 g/t gold). The Company believes that these inferred mineral resources represent only a portion of the mineralized potential located below the mineral resources pit shell.

2023 Exploration Highlights

At the Detour Lake mine in 2023, exploration drilling totalled 213,000 metres in 306 holes for the full year. The program successfully defined continuity of mineralization below and west of the mineral resources pit, resulting in the initial underground inferred mineral resource estimate described above.

Selected recent drill intercepts from the Detour Lake mine are set out in the plan map and composite longitudinal section below and in a table in the Appendix.

[Detour Lake – Plan Map and Composite Longitudinal Section]

The results below and west of the mineral reserves pit include the following highlights: 11.4 g/t gold over 5.6 metres at 319 metres depth in hole DLM23-730W; 2.7 g/t gold over 47.2 metres at 233 metres depth, including 6.5 g/t gold over 13.3 metres at 220 metres depth, hole DLM23-757; and 5.5 g/t gold over 16.6 metres at 307 metres depth in hole DLM23-775.

The drilling program also demonstrated the continuity of the mineralization outside of the mineral resource footprint over a 2.5 kilometre strike length in the western plunge of the known orebody. Highlight intercepts include: 18.3 g/t gold over 12.6 metres at 545 metres depth in hole DLM23-733A; 7.8 g/t gold over 2.7 metres at 1,030 metres depth in hole DLM23-747; 6.0 g/t gold over 22.4 metres at 236 metres depth in hole DLM23-735; 24.8 g/t gold over 7.4 metres at 420 metres depth in hole DLM23-767; and 19.3 g/t gold over 2.7 metres at 845 metres depth in hole DLM23-773.

Exploration Plan and Budget for 2024

The Company expects to spend approximately $27.7 million for 160,000 metres of drilling at Detour Lake in 2024, including $20.3 million for 120,000 metres of capitalized drilling into the western plunge of the main deposit to increase confidence in the mineralization's continuity, both in the inferred mineral resources for conversion purposes and to continue extending the mineralized trend to the west. An exploration ramp is also being considered to increase confidence in the continuity of the inferred mineral resource and to potentially collect a bulk sample.

In addition, the Company expects to spend approximately $7.4 million for 40,000 metres of regional drilling in 2024, to explore satellite targets on the Company's large 107,400 hectare land position around the Detour Lake and adjacent Detour East properties that could potentially provide mill feed to the Detour Lake operation.

The Company continues to evaluate the potential for underground mining. The Company expects to provide an update the Detour underground project and ongoing exploration results in the first half of 2024.

MACASSA

MRMR Highlights

The Macassa mine achieved a 171% replacement of its mining depletion in 2023, with an underground infill drilling campaign that resulted in a net mineral reserves addition totalling 115,000 ounces of gold. The addition is mainly due to the expansion of mineral reserves in the deep eastern portion of the mine and an optimized mine plan resulting from improved mine infrastructure with the completion of #4 Shaft and new ventilation facilities.

The realized synergies between Macassa and the nearby AK and Near Surface ("NSUR") deposits continued to benefit the Macassa mine, with the addition of 67,000 ounces of gold in mineral reserves at the AK and NSUR deposits, net of production. Total mineral reserves at AK now stand at 160,000 ounces of gold (741,500 tonnes grading 6.69 g/t gold) at year-end 2023 and production is expected to start in 2024, demonstrating the achievement of operational synergies from the Merger.

2023 Exploration Highlights

At the Macassa mine in 2023, exploration drilling totalled metres, including 86,221 metres in the SMC and Main Break zones and 26,946 metres in the NSUR and AK deposits.

Selected recent drill intercepts from the Macassa mine are set out in the composite longitudinal section below and in a table in the Appendix.

[Macassa – Isometric View and Composite Longitudinal Section]

Drilling intersected significant results east of the current mineral resource, further supporting a lateral extension to SMC East, with highlight hole 53-4782 returning 43.0 g/t gold over 1.9 metres at 1,664 metres depth and hole 53-4813A returned 40.4 g/t gold over 1.9 metres at 1,698 metres depth.

In the Lower/West SMC, the drill program was successful in identifying multiple mineralized zones and visible gold, which suggests potential for lateral extensions and localized hanging wall splays. Recent significant results from the program include: 78.9 g/t gold over 1.9 metres at 1,827 metres depth in hole 57-1394; 67.6 g/t over 1.9 metres at 1,846 metres depth in hole 57-1442; and 69.6 g/t gold over 1.5 metres at 1,879 metres depth and 110.4 g/t gold over 1.5 metres at 1,884 metres depth in hole 57-1445.

In the Main Break, results to the east and up-trend of known mineral resources support the extension of mineral resources and confirm the potential for further mineralization to the east. Highlights include: 16.7 g/t gold over 1.3 metres at 2,122 metres depth in hole 58-892; 25.1 g/t gold over 1.3 metres at 2,086 metres depth in hole 58-894; and 39.6 g/t gold over 3.2 metres at 2,000 metres depth and 50.1 g/t gold over 3.3 metres at 2,007 metres depth in hole 58-920.

In the AK and NSUR deposits, drilling also expanded the mineral reserve base by 60% and confirmed the geological interpretation of AK, while providing further opportunities for mineral resource growth at AK where underground development and mining will start in 2024. Highlights from drilling at AK include: 21.8 g/t gold over 4.4 metres at 319 metres depth in hole KLAK-242; 25.0 g/t gold over 5.0 metres at 365 metres depth in hole KLAK-245; and 12.2 g/t gold over 4.3 metres at 318 metres depth in hole KLAK-261.

2024 Exploration Plan and Budget

The Company expects to spend approximately $19.2 million for 161,900 metres of capitalized drilling at Macassa in 2024, aiming to increase and upgrade mineral resources. The exploration program will continue to build the mineral resource base to the east in the SMC East and Main Break, and to the west in the Lower/West SMC. Drilling in the AK and NSUR deposits will target mineral resource expansion. In addition, $14.1 million is budgeted for capitalized exploration to further develop exploration drifts that will allow drilling to the east of current mine infrastructure along strike and at depth of the SMC and Main Break towards the historic Lake Shore mine.

As a part of an Ontario regional exploration budget totalling $13.5 million for 19,400 metres, a surface exploration campaign will include drill holes to test the deep extensions of the Main Break east of the underground infrastructure of the SMC and below all historical mining levels of the Kirkland Lake camp to provide support for future underground exploration drifts.

NUNAVUT

MELIADINE

2023 Exploration Highlights

At the Meliadine mine in 2023, exploration drilling totalled 91,579 metres, with work focused on three areas: deep exploration and conversion drilling at the Pump deposit; infill drilling of inferred mineral resources at depth in the Wesmeg and Tiriganiaq deposits; and exploration drilling at the F-Zone deposit. The ongoing development of an exploration drift is providing improved access for new underground drilling platforms to investigate the lateral and depth extensions of the main Tiriganiaq deposit.

Selected recent drill intercepts from the Tiriganiaq deposit at the Meliadine property are set out in the plan map and composite longitudinal section below and in a table in the Appendix.

[Meliadine Mine – Plan Map & Composite Longitudinal Section]

The positive results from exploration drilling at shallow depth into the Pump North Zone include: hole M23-3596 intersecting 10.8 g/t gold over 4.9 metres at 210 metres depth and 4.5 g/t gold over 6.7 metres, at 220 metres depth including 8.3 g/t gold over 3.3 metres at 220 metres depth; hole M23-3577A, drilled on the same section, which returned 16.1 g/t gold over 3.6 metres at 361 metres depth and 10.8 g/t gold over 4.3 metres at 383 metres depth; hole M23-3595, drilled 115 metres to the west of hole M23-3577A, which intersected 10.7 g/t gold over 3.9 metres at 305 metres depth; and hole M23-3580, drilled 25 metres west of hole M23-3595, which returned 5.0 g/t gold over 5.8 metres at 437 metres depth and 4.7 g/t gold over 5.1 metres at 455 metres depth, indicating that the mineralized folded iron formation is still open at depth. 

At Tiriganiaq, drilling is converting sectors to the west and exploring outside of the mineral resource limits in the east, and returned results such as hole M23-3760 intersecting 6.0 g/t gold over 3.0 metres at 299 metres depth. This interval is approximatively 200 metres deeper and 100 metres east of the current inferred mineral resource and mineral reserve limits, demonstrating their continuity at depth toward one of the major known Tiriganiaq ore shoots.

At Wesmeg North, recent highlights include hole ML300-10340-D4, which intersected 6.1 g/t gold over 11.7 metres at 467 metres depth, as well as hole ML300-10340-D1, which intersected 7.5 g/t gold over 7.9 metres at 519 metres depth. These intervals are located down plunge of one of the deposit's high-grade ore shoots and demonstrate its continuity. Additionally, hole ML300-10340-D6 returned 11.1 g/t gold over 5.3 metres at 303 metres depth, demonstrating the potential to develop a new ore shoot outside of the mineral resource. 

At Wesmeg, hole M23-3659 intersected 9.4 g/t gold over 3.7 metres at 351 metres depth, and on the same section, hole ML400-10200-F1 intersected 15.4 g/t gold over 3.7 metres at 396 metres depth and 12.6 g/t gold over 3.3 metres depth at 402 metres depth. Approximately 100 metres further east, hole ML300-10340-D2 intersected 11.4 g/t over 3.9 metres at 494 metres depth.

2024 Exploration Plan and Budget

The Company expects to spend approximately $18.6 million for 77,700 metres of capitalized drilling at Meliadine in 2024, including $2.6 million for further extension of the exploration drift. The drilling will principally focus on expanding and converting existing mineral resources in the Tiriganiaq, Wesmeg and Pump deposits. As the development of the exploration drift continues at Tiriganiaq, it will provide new access further into the eastern and western extensions of the mineral resource at depth starting in the first quarter of 2024.

AMARUQ AT MEADOWBANK

MRMR Highlights

The Amaruq mine at the Meadowbank complex saw continued positive reconciliation performance during 2023 and, as a result, the estimation parameters and mining assumptions were adjusted which resulted in an increase of 150,000 ounces of gold in mineral reserves that were offset by production depletion.

2023 Exploration Highlights

At Amaruq in 2023, exploration drilling totalled 29,133 metres, including conversion drilling. The main objectives of this exploration program were: to infill Whale Tail underground mineral resources; to confirm IVR open pit mineral resources for an eventual pit pushback; and to extend underground mineral resources at depth in the Whale Tail and IVR deposits.

Selected recent drill intercepts from Amaruq are set out in the composite longitudinal section below and in a table in the Appendix.

[Amaruq – Composite Longitudinal Section]

Exploration drilling in proximity to the underground mineral resources of the Whale Tail deposit intersected significant mineralization from Zone QZ03 and Zone IC with the following highlights: 3.8 g/t gold over 6.8 metres at 503 metres depth in hole AMQ23-3034; 4.9 g/t gold over 6.7 metres at 595 metres depth in hole AMQ23-3043B; and 7.4 g/t gold over 2.4 metres at 554 metres depth in hole AMQ23-3046.

The drilling at depth at the IVR deposit intercepted significant mineralized zones including the following highlights: 5.1 g/t gold over 17.4 metres at 901 metres depth hole AMQ23-3062; and hole AMQ23-3064A intercepting three intersections from a folded zone, including 6.3 g/t gold over 5.2 metres at 967 metres depth, 11.3 g/t gold over 6.4 metres at 979 metres depth and 4.4 g/t gold over 9.2 metres at 1,013 metres depth. These results demonstrate that the IVR deposit remains open at depth and further demonstrate the potential to grow underground mineral resources at Amaruq.

2024 Exploration Plan and Budget

The Company expects to spend approximately $1.9 million for 6,800 metres of expensed exploration drilling at Amaruq in 2024, focused on testing for potential extensions to the open pits and, based on recent exploration success, testing the depth extensions of Whale Tail and IVR high grade gold mineralization. The aim of these programs is to further extend the life of the Amaruq mine.

HOPE BAY

MRMR Highlights

Exploration drilling at Hope Bay added 336,000 ounces of inferred mineral resources at year-end 2023, mostly from the Patch 7 zone, which was partially offset by a reduction of 177,000 ounces of gold in inferred mineral resources due to project-wide conversion to indicated mineral resources and improvement of mining parameters.

2023 Exploration Highlights

At the Hope Bay project in 2023, exploration drilling totalled 125,150 metres in 224 holes, focused on the Madrid and Doris gold deposits, as well as regionally in the Hope Bay gold belt. The program had up to nine drill rigs in operation and was divided between Doris (55,119 metres in 121 holes), Madrid (59,795 metres in 79 holes) and regional exploration (10,236 metres in 24 holes).

Based on the positive results at Madrid and Doris in the first half of 2023, the Company approved a supplemental exploration budget at Hope Bay of $14.5 million for an additional 58,000 metres of drilling during the second half of 2023.

Exploration at Madrid during the second half of 2023 remained focused on drilling wide step-out holes spaced approximately 200 metres apart into the underexplored, 2-kilometre strike extension gap between the Suluk and Patch 7 zones at depths between 300 and 700 metres, as well as to the south of the Patch 7 zone.

Recent results have extended this area of mineralization to a minimum of 2,200 metres in lateral distance and 500 metres in vertical distance, and demonstrated that gold mineralization extends approximately 200 metres south of the Patch 7 deposit.

Selected recent drill intercepts from the Madrid-area deposits are set out in the composite longitudinal section below and in a table in the Appendix.

[Madrid Deposit at Hope Bay – Composite Longitudinal Section]

Hole HBM23-143 returned 16.3 g/t gold over 28.6 metres at 385 metres depth in Patch 7 and represents one the best holes drilled to date in the Madrid mineralized corridor. The intercept is 100 metres up-dip of previously reported hole HBM23-086 (13.7 g/t gold over 4.6 metres at 697 metres depth, see the Company's news release dated July 26, 2023) and more than 200 metres from other drill holes above and laterally, highlighting the opportunity to significantly expand this mineralized area.

In the northern extension of the gap target, hole HBM23-140 returned 12.7 g/t gold over 4.6 metres at 677 metres depth in the Suluk zone. This intercept is located 580 metres north of previously reported hole HBM23-105 (10 g/t gold over 14.0 metres at 677 metres depth, see the Company's news release dated July 26, 2023) and 1,100 metres north of hole HBM23-143, further demonstrating the lateral extent of the Suluk-Patch 7 mineralized trend.

Drilling that targeted the southern extension of the Patch 7 zone was highlighted by hole HBM23-132, which returned 5.0 g/t gold over 4.4 metres at 460 metres depth and 5.9 g/t gold over 2.3 metres at 530 metres depth, approximately 200 metres south of the mineral resources at Patch 7. This hole demonstrates the southern extension of the known favourable gold mineralization at Patch 7, and the trend remains open in the 1-kilometre-long underexplored area to the south between the Patch 7 and Patch 14 zones.

At Doris, the planned exploration drilling program for 2023 was completed early in the third quarter and results continued to confirm and expand the known mineralized zones. Drilling at Doris and nearby targets will resume in early 2024.

In regional exploration during 2023, one drill rig tested early-stage targets in the northern part of the Hope Bay greenstone belt and a regional lake sediment survey was completed in the Elu belt. A significant follow-up regional exploration program is planned for 2024.

2024 Exploration Plan and Budget

After a pause in drilling during the transition to winter, the Hope Bay project is ramping back up to full capacity with seven surface drill rigs. The Company expects to spend approximately $22.0 million for 50,000 metres of drilling at the Hope Bay project in 2024. This program will focus on high potential areas at Madrid and Doris, including the wide step-out strategy at Madrid to further assess the mineral resource potential of the gap between Suluk and Patch 7 as well as the area south of Patch 7. This first phase of drilling is expected to be completed before the end of the second quarter and additional drilling will be considered for the third and fourth quarters. The wider objective of the exploration program at Hope Bay remains to grow the mineral reserves and mineral resources at Madrid and Doris to support ongoing project studies and potential mining activities.

AUSTRALIA

FOSTERVILLE

MRMR Highlights

The Fosterville mine successfully replaced 102% of mining depletion in 2023 with new mineral reserves. The replacement was achieved through infill drilling that, combined with the revision of the mine production plan, resulted in an addition of 289,000 ounces of gold in mineral reserves that has offset 285,000 ounces mining depletion in 2023.

Fosterville also saw a net addition of 277,000 ounces of gold in mineral resources year-over-year with a combination of new inferred mineral resources at Phoenix and Robbins Hill through drilling and improved economic parameters, offset by conversion and a model update.

2023 Exploration Highlights

At the Fosterville mine in 2023, exploration drilling totalled 84,310 metres in 309 holes, comprised of 68,687 metres of underground drilling and 15,623 metres of surface drilling drilling, as well as further development of underground drifts to support drill programs.

At the Phoenix/Lower Phoenix area, drilling in Lower Phoenix focused on the mineralized Cardinal, Swan/Lower Phoenix and Cygnet zones and the Cygnet hanging wall structure. At Robbins Hill, drilling tested the Hoffman and Curie zones as well as four structures that link Curie and Hoffman, including the Wu structure.

Selected recent drill intercepts from the Fosterville mine are set out in the composite longitudinal section below and in a table in the Appendix.

[Fosterville – Composite Longitudinal Section]

Recent highlight holes at Fosterville show high gold grades and demonstrate the potential for several zones at Phoenix and Robbins Hill to provide additional mineral reserves and mineral resources.

In the Phoenix area, highlight hole UDH4729B intersected 69.1 g/t gold over 3.7 metres at 1,773 metres depth in the Cardinal structure, including 120.0 g/t gold over 2.1 metres at 1,772 metres depth. The intersection is approximately 115 metres down-plunge of the Cardinal mineral reserves and is within a 200 metre down-plunge extent of visible gold.

Also in the Phoenix area, hole UDH4859 intersected 17.3 g/t gold over 8.3 metres at 1,166 metres depth, approximately 10 metres outside the Cygnet Zone mineral reserves in a newly identified mineralized trend named the Peregrine Zone, where follow-up drilling is planned in 2024.

At Robbins Hill, hole UDR047 intersected 5.0 g/t gold over 6.0 metres at 574 metres depth in the Hoffman Zone in a sulphide intercept located 900 metres south of the current Hoffman mineral reserves.

In the Curie Zone at Robbins Hill, hole UDH4834 intersected 149.6 g/t over 5.6 metres at 566 metres depth within the lower portion of the Curie mineral reserves.

Highlight hole UDH4580A intersected 301.4 g/t gold over 2.0 metres at 636 metres depth in the underexplored Wu Zone, which extends for more than 700 metres in length within the Robbins Hill system.

2024 Exploration Plan and Budget

The Company expects to spend approximately $10.9 million for 38,700 metres of capitalized drilling at Fosterville in 2024, focused on the extensions of mineral reserves and mineral resources at Lower Phoenix and Robbins Hill. An additional $11.7 million is budgeted for 36,500 metres of underground and surface expensed exploration to test new geological targets, including underground exploration at Harrier. Up to six underground rigs and one surface rigs are expected to be used during the year.

Regionally at Fosterville, preparation is underway for surface exploration programs to identify favourable structural environments with folding and faulting similar to the Fosterville fault that hosts the Swan Zone, and could potentially host significant gold mineralization, with follow up drilling planned for any new prospective targets.

FINLAND

KITTILA

MRMR Highlights

At the Kittila mine, improved modelling of the deposit and conversion drilling in the Suuri and Roura Deep areas resulted in the addition of 182,000 ounces of gold in mineral reserves, replacing 65% of 2023 mining depletion.

2023 Exploration Highlights

At the Kittila mine in 2023, exploration and conversion drilling totalled 58,000 metres, mainly targeted at the Main and Sisar zones in the northern and southern portions of the deposit at approximately 1.0 to 1.4 kilometres depth.

Selected recent drill intercepts from the Kittila mine are set out in the composite longitudinal section below and in a table in the Appendix.

[Kittila Mine – Composite Longitudinal Section]

To the north in the Rimpi area, highlight hole RIE23-630 intersected 5.1 g/t gold over 4.7 metres at 1,059 metres depth in the Main Zone, representing a 200-metre extension of the Main Zone to the north at moderate depths. Drilling is ongoing in this area.

The exploration and conversion drilling program in the central Roura area near the bottom of the shaft was highlighted by hole RUG23-515, which intersected 7.0 g/t gold over 19.8 metres at 1,133 metres depth in the Sisar Zone, including 18.8 g/t gold over 4.1 metres at 1,129 metres depth; and hole ROD23-7000D, which intersected 7.8 g/t gold over 4.2 metres at 1,154 metres depth in the Main Zone. These intersections are northern extensions of the gold mineralization in the Suuri zone, and they demonstrate the potential to add mineral reserves in this area, which remains open at depth.

In step-out drilling towards the south in the Suuri area, hole SUU23-700C intersected 3.4 g/t gold over 3.8 metres at 935 metres depth in the Main Zone, extending gold mineralization by 250 metres to the south. Approximately 400 metres above hole SUU237-00C, hole SUU23-606 intersected 10.0 g/t gold over 5.9 metres at 506 metres depth in the Main Zone, demonstrating the wide exploration target for continued exploration drilling to the south.

During the second half of 2023, exploration drilling from surface began targeting an underexplored, parallel mineralized structure named the East Zone located in the Suuri area approximately 140 metres east of the mine's producing Main Zone and outside current mineral resources. Following up on the previously announced hole SUU23004 in the East Zone, which intersected 11.8 g/t gold over 9.9 metres at 208 metres depth, including 18.2 g/t gold over 4.8 metres at 206 metres depth (see the Company's news release dated October 25, 2023), two recent holes returned further significant gold mineralization at shallow depths in the East Zone: hole SSU23-008 intersected 11.5 g/t gold over 7.8 metres at 204 metres depth, including 20.5 g/t gold over 3.7 metres at 205 metres depth, with the intersection located 73 metres south of hole SUU23-004; and hole SUU23-001 intersected 4.3 g/t gold over 2.7 metres at 158 metres depth, approximately 200 metres north of hole SUU23-004.

The newly identified East Zone is an attractive, high-grade parallel zone at shallow depth that has the potential to provide an additional source of ore proximal to existing mine infrastructure.

2024 Exploration Plan and Budget

The Company expects to spend approximately $11.8 million for 70,000 metres of drilling at the Kittila mine in 2024, focused on the Main Zone in the Roura and Rimpi areas as well as the Sisar Zone. The drilling includes 16,000 metres of capitalized conversion and 35,500 meters of capitalized exploration as described above. The 18,500 metres of expensed exploration drilling will be focused on targets beyond the current mineral reserve area, including from 1,500 to 2,000 metres depth and in the extension of the central Roura area near the bottom of the shaft. Follow up drilling is also planned in the East Zone in the Suuri area at shallow depths.

MEXICO

PINOS ALTOS

2023 Exploration Highlights

At the Pinos Altos mine in 2023, exploration drilling totalled 21,264 metres in 81 holes, focused on the Pinos Altos Deep project beneath the mine, the advanced Cubiro underground project in the northwest of the property and the Moctezuma and Reyna mineralized trends.

At Pinos Altos Deep, drilling beneath the Oberon de Weber mining zone was highlighted by hole US23-299, which intersected 4.9 g/t gold and 193 g/t silver over 6.9 metres at 254 metres depth, including 10.5 g/t gold and 186 g/t silver over 2.3 metres at 254 metres depth, demonstrating the potential to add mineral resources and mineral reserves approximately 100 metres below current underground mine workings.

The positive results from recent exploration show the potential to continue to add and convert remaining mineral resources into mineral reserves and to extend the life of mine at Pinos Altos.

Exploration Plan and Budget for 2024

The Company expects to spend approximately $4.6 million for 20,700 metres of capitalized and expensed exploration drilling at Pinos Altos in 2024.

About Agnico Eagle

Agnico Eagle is a Canadian based and led senior gold mining company and the third largest gold producer in the world, producing precious metals from operations in Canada, Australia, Finland and Mexico. It has a pipeline of high-quality exploration and development projects in these countries as well as in the United States. Agnico Eagle is a partner of choice within the mining industry, recognized globally for its leading environmental, social and governance practices. The Company was founded in 1957 and has consistently created value for its shareholders, declaring a cash dividend every year since 1983.

Further Information

For further information regarding Agnico Eagle, please contact Investor Relations at the email address investor.relations@agnicoeagle.com or call (416) 947-1212.

Forward-Looking Statements

The information in this news release has been prepared as at February 15, 2024. Certain statements contained in this news release constitute "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" under the provisions of Canadian provincial securities laws and are referred to herein as "forward-looking statements". All statements, other than statements of historical fact, that address circumstances, events, activities or developments that could, or may or will occur are forward looking statements. When used in this news release, the words "achieve", "aim", "anticipate", "could", "estimate", "expect", "forecast", "future", "plan", "possible", "potential", "schedule", "target", "tracking", "will", and similar expressions are intended to identify forward-looking statements. Such statements include, without limitation: the Company's forward-looking guidance, including project timelines, drilling targets or results, life of mine estimates; the estimated timing and conclusions of the Company's studies and evaluations; the Company's plans at the Hope Bay project; the Company's plans at the Wasamac project; statements concerning other expansion projects, optimization efforts, projected exploration, including costs and other estimates upon which such projections are based; timing and amounts of exploration expenditures and other cash needs; estimates of future mineral reserves, mineral resources, the projected development of certain ore deposits, including estimates of exploration, development and production and other capital costs and estimates of the timing of such exploration, development and production or decisions with respect to such exploration, development and production; estimates of mineral reserves and mineral resources and the effect of drill results on future mineral reserves and mineral resources; the Company's ability to obtain the necessary permits and authorizations in connection with its proposed or current exploration, development and mining operations and the anticipated timing thereof; future exploration; the anticipated timing of events with respect to the Company's mine sites; and anticipated trends with respect to the Company's operations, exploration and the funding thereof. Such statements reflect the Company's views as at the date of this news release and are subject to certain risks, uncertainties and assumptions, and undue reliance should not be placed on such statements. Forward-looking statements are necessarily based upon a number of factors and assumptions that, while considered reasonable by Agnico Eagle as of the date of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. The material factors and assumptions used in the preparation of the forward looking statements contained herein, which may prove to be incorrect, include, but are not limited to, the assumptions set forth herein and in management's discussion and analysis ("MD&A") and the Company's Annual Information Form ("AIF") for the year ended December 31, 2022 filed with Canadian securities regulators and that are included in its Annual Report on Form 40-F for the year ended December 31, 2022 ("Form 40-F") filed with the U.S. Securities and Exchange Commission (the "SEC"), the Company's news release dated February 15, 2024 announcing its full year 2023 results, as well as: that there are no significant disruptions affecting operations; that production, permitting, development, expansion and the ramp-up of operations at each of Agnico Eagle's properties proceeds on a basis consistent with current expectations and plans; that the relevant metal prices, foreign exchange rates and prices for key mining and construction inputs (including labour and electricity) will be consistent with Agnico Eagle's expectations; that Agnico Eagle's current estimates of mineral reserves, mineral resources, mineral grades and metal recovery are accurate; that there are no material delays in the timing for completion of ongoing growth projects; that seismic activity at the Company's operations at LaRonde, Goldex and other properties is as expected by the Company and that the Company's efforts to mitigate its effect on mining operations are successful; that the Company's current plans to optimize production are successful; that there are no material variations in the current tax and regulatory environment; that governments, the Company or others do not take additional measures in response to the COVID-19 pandemic or otherwise that, individually or in the aggregate, materially affect the Company's ability to operate its business or its productivity; and that measures taken relating to, or other effects of, the COVID-19 pandemic do not affect the Company's ability to obtain necessary supplies and deliver them to its mine sites. Many factors, known and unknown, could cause the actual results to be materially different from those expressed or implied by such forward looking statements. Such risks include, but are not limited to: the volatility of prices of gold and other metals; uncertainty of mineral reserves, mineral resources, mineral grades and mineral recovery estimates; uncertainty of future production, project development, capital expenditures and other costs; foreign exchange rate fluctuations; inflationary pressures; financing of additional capital requirements; cost of exploration and development programs; seismic activity at the Company's operations, including the LaRonde complex and Goldex mine; mining risks; community protests, including by Indigenous groups; risks associated with foreign operations; governmental and environmental regulation; the volatility of the Company's stock price; risks associated with the Company's currency, fuel and by-product metal derivative strategies; the current interest rate environment; the potential for major economies to encounter a slowdown in economic activity or a recession; the potential for increased conflict or hostilities in various regions, including Europe and the Middle East; and the extent and manner to which COVID-19, its variants, and other communicable diseases or outbreaks, and measures taken by governments, the Company or others to attempt to mitigate the spread thereof may directly or indirectly affect the Company. For a more detailed discussion of such risks and other factors that may affect the Company's ability to achieve the expectations set forth in the forward-looking statements contained in this news release, see the AIF and MD&A filed on SEDAR at www.sedarplus.ca and included in the Form 40-F filed on EDGAR at www.sec.gov, as well as the Company's other filings with the Canadian securities regulators and the SEC. Other than as required by law, the Company does not intend, and does not assume any obligation, to update these forward-looking statements.

Notes to Investors Regarding the Use of Mineral Resources

The mineral reserve and mineral resource estimates contained in this news release have been prepared in accordance with the Canadian securities administrators' (the "CSA") National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("NI 43-101").

Effective February 25, 2019, the SEC's disclosure requirements and policies for mining properties were amended to more closely align with current industry and global regulatory practices and standards, including NI 43-101. However, Canadian issuers that report in the United States using the Multijurisdictional Disclosure System ("MJDS"), such as the Company, may still use NI 43-101 rather than the SEC disclosure requirements when using the SEC's MJDS registration statement and annual report forms. Accordingly, mineral reserve and mineral resource information contained in this news release may not be comparable to similar information disclosed by U.S. companies.

Investors are cautioned that while the SEC now recognizes "measured mineral resources", "indicated mineral resources" and "inferred mineral resources", investors should not assume that any part or all of the mineral deposits in these categories will ever be converted into a higher category of mineral resources or into mineral reserves. These terms have a great amount of uncertainty as to their economic and legal feasibility. Under Canadian regulations, estimates of inferred mineral resources may not form the basis of feasibility or pre-feasibility studies, except in limited circumstances. Investors are cautioned not to assume that any "measured mineral resources", "indicated mineral resources", or "inferred mineral resources" that the Company reports in this news release are or will be economically or legally mineable.

Further, "inferred mineral resources" have a great amount of uncertainty as to their existence and as to their economic and legal feasibility. It cannot be assumed that any part or all of an inferred mineral resource will ever be upgraded to a higher category.

The mineral reserve and mineral resource data set out in this news release are estimates, and no assurance can be given that the anticipated tonnages and grades will be achieved or that the indicated level of recovery will be realized. The Company does not include equivalent gold ounces for by-product metals contained in mineral reserves in its calculation of contained ounces and mineral reserves are not reported as a subset of mineral resources.

Scientific and Technical Information

The scientific and technical information contained in this news release relating to exploration activities has been approved by Guy Gosselin, Eng. and P.Geo., Executive Vice-President, Exploration and Olivier Grondin, P.Geo., Vice-President, Exploration; and relating to mineral reserves and mineral resources has been approved by Dyane Duquette, P.Geo., Vice-President, Mineral Resources Management, each of whom is a "Qualified Person" for the purposes of NI 43-101.

Detailed Mineral Reserve and Mineral Resource Data

MINERAL RESERVES

As at December 31, 2023

OPERATION / PROJECT

PROVEN

PROBABLE

PROVEN & PROBABLE

GOLD

Mining
Method*

000

Tonnes

g/t

000 Oz
Au

000
Tonnes

g/t

000 Oz
Au

000
Tonnes

g/t

000 Oz
Au

Recovery
%**

LaRonde mine1

U/G

2,342

4.98

375

8,568

6.79

1,870

10,910

6.40

2,244

94.7

LaRonde Zone 52

U/G

4,450

2.11

301

4,523

2.30

334

8,972

2.20

636

94.7

LaRonde complex Total

6,791

3.10

676

13,091

5.24

2,204

19,882

4.51

2,880


Canadian Malartic3

O/P

45,474

0.58

852

45,332

1.09

1,584

90,806

0.83

2,436

89.0

East Gouldie4

U/G

47,005

3.42

5,173

47,005

3.42

5,173

94.6

Odyssey deposits5

U/G

17

2.25

1

4,422

2.17

308

4,440

2.17

310

95.3

Canadian Malartic complex Total

45,491

0.58

853

96,760

2.27

7,065

142,251

1.73

7,919


Goldex6

U/G

797

2.60

66

16,873

1.54

834

17,669

1.59

901

85.8

Akasaba West7

O/P

203

0.84

5

4,823

0.89

138

5,025

0.89

143

77.1

Quebec Total


53,282

0.93

1,601

131,546

2.42

10,242

184,828

1.99

11,843


Detour Lake (Above 0.5 g/t)

O/P

70,048

1.14

2,565

484,633

0.90

14,029

554,681

0.93

16,594

91.9

Detour Lake (Below 0.5 g/t)

O/P

48,656

0.43

666

215,712

0.38

2,669

264,368

0.39

3,335

90.0

Detour Lake Total8

118,703

0.85

3,230

700,346

0.74

16,698

819,049

0.76

19,928


Macassa mine9

U/G

248

16.17

129

3,959

14.34

1,825

4,207

14.45

1,954

97.4

Macassa Near Surface10

U/G

2

4.23

117

5.96

22

119

5.93

23

95.0

AK deposit11

U/G

742

6.69

160

742

6.69

160

95.0

Macassa Total

249

16.10

129

4,818

12.96

2,007

5,067

13.11

2,136


Upper Beaver12

U/G

7,992

5.43

1,395

7,992

5.43

1,395

95.0

Hammond Reef13

O/P

123,473

0.84

3,323

123,473

0.84

3,323

89.2

Ontario Total


118,952

0.88

3,359

836,629

0.87

23,424

955,581

0.87

26,783


Amaruq

O/P

3,010

1.58

153

9,469

3.76

1,146

12,479

3.24

1,299

91.7

Amaruq

U/G

49

5.96

9

2,829

5.81

528

2,878

5.81

538

91.7

Meadowbank complex Total14

3,059

1.65

162

12,298

4.23

1,674

15,357

3.72

1,837


Meliadine

O/P

266

4.27

37

4,632

4.46

664

4,898

4.45

700

94.7

Meliadine

U/G

1,514

7.57

369

11,846

6.30

2,398

13,360

6.44

2,767

96.3

Meliadine Total15


1,780

7.08

405

16,478

5.78

3,062

18,258

5.91

3,467


Hope Bay16

U/G

93

6.77

20

16,123

6.51

3,377

16,216

6.52

3,397

87.5

Nunavut Total


4,932

3.71

588

44,899

5.62

8,113

49,831

5.43

8,701


Fosterville17

U/G

679

12.52

273

7,897

5.55

1,409

8,576

6.10

1,682

95.0

Australia Total


679

12.52

273

7,897

5.55

1,409

8,576

6.10

1,682


Kittila18

U/G

984

4.11

130

25,943

4.14

3,454

26,926

4.14

3,584

86.9

Europe Total


984

4.11

130

25,943

4.14

3,454

26,926

4.14

3,584


Pinos Altos

O/P

24

1.21

1

2,363

1.21

92

2,387

1.21

93

94.4

Pinos Altos

U/G

2,386

2.14

164

4,150

2.17

290

6,536

2.16

454

94.2

Pinos Altos Total19

2,410

2.13

165

6,514

1.82

381

8,924

1.90

546


San Nicolás (50%)20

O/P

23,858

0.41

314

28,761

0.39

358

52,619

0.40

672

17.6

Mexico Total


26,268

0.57

479

35,275

0.65

739

61,543

0.62

1,219


Total Gold


205,096

0.98

6,430

1,082,188

1.36

47,380

1,287,284

1.30

53,811














SILVER

Mining
Method*

000

Tonnes

g/t

000 Oz
Ag

000
Tonnes

g/t

000 Oz
Ag

000
Tonnes

g/t

000 Oz
Ag

Recovery
%**

LaRonde

U/G

2,342

14.32

1,078

8,568

21.60

5,950

10,910

20.04

7,028

74.9

Pinos Altos

O/P

24

43.30

33

2,363

36.35

2,762

2,387

36.42

2,796

44.5

Pinos Altos

U/G

2,386

40.03

3,070

4,150

47.41

6,326

6,536

44.71

9,396

49.3

Pinos Altos Total


2,410

40.06

3,104

6,514

43.40

9,088

8,924

42.50

12,192


San Nicolás (50%)

O/P

23,858

23.93

18,356

28,761

20.91

19,333

52,619

22.28

37,689

38.2

Total Silver


28,609

24.50

22,538

43,843

24.38

34,371

72,453

24.43

56,909














COPPER

Mining
Method*

000

Tonnes

%

tonnes
Cu

000
Tonnes

%

tonnes
Cu

000
Tonnes

%

tonnes
Cu

Recovery
%**

LaRonde

U/G

2,342

0.19

4,558

8,568

0.30

25,341

10,910

0.27

29,899

83.6

Akasaba West

O/P

203

0.44

890

4,823

0.50

24,262

5,025

0.50

25,153

83.6

Upper Beaver

U/G

7,992

0.25

19,980

7,992

0.25

19,980

90.0

San Nicolás (50%)

O/P

23,858

1.26

299,809

28,761

1.01

291,721

52,619

1.12

591,530

75.7

Total Copper


26,402

1.16

305,258

50,144

0.72

361,305

76,546

0.87

666,562














ZINC

Mining
Method*

000

Tonnes

%

tonnes
Zn

000
Tonnes

%

tonnes
Zn

000
Tonnes

%

tonnes
Zn

Recovery
%**

LaRonde

U/G

2,342

0.62

14,424

8,568

1.08

92,164

10,910

0.98

106,588

69.2

San Nicolás (50%)

O/P

23,858

1.61

383,313

28,761

1.37

394,115

52,619

1.48

777,428

65.5

Total Zinc


26,199

1.52

397,736

37,330

1.30

486,280

63,529

1.39

884,016


*Underground ("U/G"), Open Pit ("O/P")

** Represents metallurgical recovery percentage

1 LaRonde mine: Net smelter value cut-off varies according to mining type and depth, not less than C$91/t for LP1 and not less than C$192/t for LaRonde.

2 LaRonde Zone 5: Gold cut-off grade varies according to stope size and depth, not less than 1.56 g/t.

3 Canadian Malartic: Gold cut-off grade not less than 0.34 g/t for Barnat pit.

4 East Gouldie: Gold cut-off grade not less than 1.67 g/t.

5 Odyssey deposits: Gold cut-off grade varies according to mining zone and depth, not less than 1.53 g/t.

6 Goldex: Gold cut-off grade varies according to mining type and depth, not less than 1.00 g/t.

7 Akasaba West: Net smelter value cut-off varies, not less than C$33/t.

8 Detour Lake: Gold cut-off grade not less than 0.30 g/t.

9 Macassa mine: Gold cut-off grade varies according to mining type, not less than 3.71 g/t for long hole method and 4.41 g/t for cut and fill method.

10 Macassa Near Surface: Gold cut-off grade not less than 4.33 g/t.

11 Amalgamated Kirkland (AK) deposit: Gold cut-off grade not less than 4.25 g/t.

12 Upper Beaver: Net smelter value cut-off not less than C$125/t.

13 Hammond Reef: Gold cut-off grade not less than 0.41 g/t.

14 Amaruq: Gold cut-off grade varies according to mining type, not less than 1.14 g/t for open pit mineral reserves and 3.42 g/t for underground mineral reserves (gold cut-off grade for marginal underground mineral reserves from development is 1.14 g/t).

15 Meliadine: Gold cut-off grade varies according to mining type, not less than 1.80 g/t for open pit mineral reserves and 4.40 g/t for underground mineral reserves (gold cut-off grade for marginal underground mineral reserves from development is 1.80 g/t).

16 Hope Bay: Gold cut-off grade not less than 4.00 g/t.

17 Fosterville: Gold cut-off grade varies according to mining zone and type, not less than 3.80 g/t.

18 Kittila: Gold cut-off grade varies according to haulage distance, not less than 2.59 g/t.

19 Pinos Altos: Net smelter value cut-off varies according to mining zone and type, not less than C$9.33/t for open pit mineral reserves and US$49.93/t for the underground mineral reserves.

20San Nicolás (50%): Net smelter return cut-off values for low zinc/copper ore of US$9.71/t and for high zinc/copper ore of US$13.15/t.

MINERAL RESOURCES

As at December 31, 2023

OPERATION / PROJECT

MEASURED

INDICATED

MEASURED & INDICATED

INFERRED

GOLD

Mining
Method*

000

Tonnes

g/t

000 Oz
Au

000
Tonnes

g/t

000
Oz Au

000
Tonnes

g/t

000
Oz Au

000
Tonnes

g/t

000
Oz Au

LaRonde

U/G

6,424

3.06

632

6,424

3.06

632

1,569

5.67

286

LaRonde Zone 5

U/G

10,594

2.27

774

10,594

2.27

774

10,437

3.38

1,134

LaRonde complex Total

17,018

2.57

1,407

17,018

2.57

1,407

12,006

3.68

1,420

Canadian Malartic

O/P

8,171

0.81

214

Odyssey

U/G

1,372

1.71

75

1,372

1.71

75

19,700

2.29

1,453

East Malartic

U/G

11,134

2.04

731

11,134

2.04

731

65,748

2.12

4,480

East Gouldie

U/G

4,853

1.56

244

4,853

1.56

244

45,239

2.29

3,331

Odyssey Project Total

17,358

1.88

1,050

17,358

1.88

1,050

130,687

2.20

9,263

Canadian Malartic Total

17,358

1.88

1,050

17,358

1.88

1,050

138,858

2.12

9,477

Goldex

U/G

12,360

1.86

739

18,837

1.50

907

31,197

1.64

1,646

16,154

1.68

871

Akasaba West

O/P

4,044

0.70

91

4,044

0.70

91

Wasamac

U/G

27,850

2.43

2,173

27,850

2.43

2,173

9,232

2.66

789

Quebec Total


12,360

1.86

739

85,109

2.06

5,628

97,468

2.03

6,367

176,249

2.22

12,558

Detour Lake

O/P

30,861

1.45

1,434

697,821

0.74

16,520

728,681

0.77

17,955

58,317

0.62

1,156

Detour Lake

U/G

21,811

2.23

1,561

Detour Lake Zone 58N

U/G

2,868

5.80

534

2,868

5.80

534

973

4.35

136

Detour Lake Total


30,861

1.45

1,434

700,688

0.76

17,055

731,549

0.79

18,489

81,101

1.09

2,853

Macassa

U/G

258

10.32

86

1,910

8.35

512

2,168

8.58

598

3,692

9.21

1,094

Macassa Near Surface

U/G

65

6.14

13

65

6.14

13

133

6.62

28

AK Project

U/G

163

6.95

37

163

6.95

37

282

5.69

52

Macassa Total


258

10.32

86

2,138

8.17

562

2,396

8.40

647

4,106

8.89

1,173

Aquarius

O/P

23,112

1.49

1,106

23,112

1.49

1,106

502

0.87

14

Holt complex

U/G

5,806

4.29

800

5,884

4.75

898

11,690

4.52

1,699

9,097

4.48

1,310

Anoki-McBean

U/G

3,919

2.77

349

3,919

2.77

349

867

3.84

107

Upper Beaver

U/G

3,636

3.45

403

3,636

3.45

403

8,688

5.07

1,416

Upper Canada

O/P

2,006

1.62

104

2,006

1.62

104

1,020

1.44

47

Upper Canada

U/G

8,433

2.28

618

8,433

2.28

618

17,588

3.21

1,816

Upper Canada Total


10,439

2.15

722

10,439

2.15

722

18,608

3.11

1,863

Hammond Reef

O/P

47,063

0.54

819

86,304

0.53

1,478

133,367

0.54

2,298

Ontario Total


83,988

1.16

3,140

836,119

0.84

22,574

920,107

0.87

25,713

122,968

2.21

8,736

Amaruq

O/P

4,758

2.62

401

4,758

2.62

401

236

2.87

22

Amaruq

U/G

8,544

4.37

1,199

8,544

4.37

1,199

3,938

4.75

602

Amaruq Total


13,302

3.74

1,600

13,302

3.74

1,600

4,173

4.65

623

Meadowbank complex Total

13,302

3.74

1,600

13,302

3.74

1,600

4,173

4.65

623

Meliadine

O/P

3

3.17

4,613

3.14

466

4,615

3.14

466

1,135

4.45

162

Meliadine

U/G

422

4.64

63

7,626

4.49

1,100

8,047

4.49

1,163

9,986

6.42

2,060

Meliadine Total


424

4.63

63

12,238

3.98

1,566

12,663

4.00

1,629

11,120

6.22

2,222

Hope Bay

U/G

10,734

3.64

1,255

10,734

3.64

1,255

12,110

5.41

2,108

Nunavut Total


424

4.63

63

36,274

3.79

4,421

36,699

3.80

4,485

27,404

5.62

4,953

Fosterville

O/P

820

2.81

74

1,771

3.87

220

2,591

3.53

294

326

2.72

29

Fosterville

U/G

262

3.99

34

8,758

4.20

1,184

9,019

4.20

1,218

9,693

4.60

1,433

Fosterville Total


1,082

3.10

108

10,528

4.15

1,404

11,610

4.05

1,512

10,019

4.54

1,461

Northern Territory

O/P

269

3.65

32

16,416

1.42

749

16,685

1.46

781

13,536

1.75

762

Northern Territory

U/G

5,115

5.39

887

5,115

5.39

887

4,284

4.45

613

Northern Territory Total

269

3.65

32

21,531

2.36

1,636

21,800

2.38

1,668

17,820

2.40

1,376

Australia Total


1,351

3.21

139

32,059

2.95

3,040

33,410

2.96

3,180

27,839

3.17

2,837

Kittilä

O/P

373

3.89

47

Kittilä

U/G

4,299

2.91

402

13,632

2.93

1,285

17,931

2.93

1,687

6,192

5.13

1,020

Kittilä Total


4,299

2.91

402

13,632

2.93

1,285

17,931

2.93

1,687

6,565

5.06

1,067

Barsele

O/P

3,178

1.08

111

3,178

1.08

111

2,260

1.25

91

Barsele

U/G

1,158

1.77

66

1,158

1.77

66

13,552

2.10

914

Barsele Total


4,335

1.27

176

4,335

1.27

176

15,811

1.98

1,005

Europe Total


4,299

2.91

402

17,967

2.53

1,461

22,266

2.60

1,863

22,376

2.88

2,072

Pinos Altos

O/P

1,266

1.03

42

1,266

1.03

42

445

1.27

18

Pinos Altos

U/G

10,394

1.92

643

10,394

1.92

643

1,431

1.87

86

Pinos Altos Total


11,659

1.83

685

11,659

1.83

685

1,876

1.73

104

La India

O/P

4,478

0.52

74

814

0.54

14

5,292

0.52

88

66

0.40

1

San Nicolás (50%)

O/P

261

0.08

1

3,037

0.20

19

3,297

0.19

20

2,468

0.13

10

Tarachi

O/P

19,290

0.58

361

19,290

0.58

361

242

0.52

4

Chipriona

O/P

10,983

0.92

326

10,983

0.92

326

976

0.66

21

El Barqueño Gold

O/P

8,834

1.16

331

8,834

1.16

331

9,628

1.13

351

Santa Gertrudis

O/P

19,267

0.91

563

19,267

0.91

563

9,819

1.36

429

Santa Gertrudis

U/G

9,079

3.44

1,004

Santa Gertrudis Total

19,267

0.91

563

19,267

0.91

563

18,898

2.36

1,433

Total Mexico


4,739

0.49

75

73,884

0.97

2,299

78,623

0.94

2,373

34,154

1.75

1,923

Total Gold


107,161

1.32

4,558

1,081,412

1.13

39,423

1,188,573

1.15

43,981

410,990

2.50

33,080















OPERATION / PROJECT

MEASURED

INDICATED

MEASURED & INDICATED

INFERRED

SILVER

Mining
Method*

000 Tonnes

g/t

000 Oz
Ag

000 Tonnes

g/t

000 Oz
Ag

000 Tonnes

g/t

000 Oz
Ag

000 Tonnes

g/t

000 Oz
Ag

LaRonde

U/G

6,424

11.98

2,474

6,424

11.98

2,474

1,569

12.25

618

Pinos Altos

O/P

1,266

21.60

879

1,266

21.6

879

445

31.74

454

Pinos Altos

U/G

10,394

50.99

17,040

10,394

50.99

17,040

1,431

36.19

1,665

Pinos Altos Total


11,659

47.80

17,919

11,659

47.8

17,919

1,876

35.13

2,120

La India

O/P

4,478

2.72

391

814

2.61

68

5,292

2.7

460

66

2.18

5

San Nicolás (50%)

O/P

261

6.40

54

3,037

11.86

1,158

3,297

11.43

1,211

2,468

9.26

735

Chipriona

O/P

10,983

100.72

35,566

10,983

100.72

35,566

976

86.77

2,722

El Barqueño Silver

O/P

4,393

124.06

17,523

El Barqueño Gold

O/P

8,834

4.73

1,343

8,834

4.73

1,343

9,628

16.86

5,218

Santa Gertrudis

O/P

19,267

3.66

2,269

19,267

3.66

2,269

9,819

1.85

585

Santa Gertrudis

U/G

9,079

23.31

6,803

Santa Gertrudis Total

19,267

3.66

2,269

19,267

3.66

2,269

18,898

12.16

7,389

Total Silver


4,739

2.92

445

61,018

30.99

60,796

65,757

28.97

61,240

39,874

28.34

36,328















COPPER

Mining
Method*

000 Tonnes

%

Tonnes Cu

000 Tonnes

%

Tonnes Cu

000 Tonnes

%

Tonnes Cu

000 Tonnes

%

Tonnes Cu

LaRonde

U/G

6,424

0.13

8,613

6,424

0.13

8,613

1,569

0.28

4,371

Akasaba West

O/P

4,044

0.43

17,270

4,044

0.43

17,270

Upper Beaver

U/G

3,636

0.14

5,135

3,636

0.14

5,135

8,688

0.20

17,284

San Nicolás (50%)

O/P

261

1.35

3,526

3,037

1.17

35,489

3,297

1.18

39,015

2,468

0.94

23,144

Chipriona

O/P

10,983

0.16

17,291

10,983

0.16

17,291

976

0.12

1,174

El Barqueño Gold

O/P

8,834

0.19

16,400

8,834

0.19

16,400

9,628

0.22

21,152

El Barqueño Silver

O/P

4,393

0.04

1,854

Total Copper


261

1.35

3,526

36,958

0.27

100,198

37,218

0.28

103,724

27,721

0.25

68,980















ZINC

Mining
Method*

000 Tonnes

%

Tonnes
Zn

000
Tonnes

%

Tonnes
Zn

000
Tonnes

%

Tonnes
Zn

000
Tonnes

%

Tonnes
Zn

LaRonde

U/G

6,424

0.74

47,404

6,424

0.74

47,404

1,569

0.36

5,600

San Nicolás (50%)

O/P

261

0.39

1,012

3,037

0.71

21,618

3,297

0.69

22,630

2,468

0.62

15,355

Chipriona

O/P

10,983

0.83

91,637

10,983

0.83

91,637

976

0.73

7,073

Total Zinc


261

0.39

1,012

20,444

0.79

160,659

20,704

0.78

161,671

5,012

0.56

28,029

*Underground ("U/G"), Open Pit ("O/P")

Assumptions used for the December 31, 2023 mineral reserve and mineral resource estimates reported by the Company

Metal Price for Mineral Reserve Estimation*

Gold (US$/oz)

Silver (US$/oz)

Copper (US$/lb)

Zinc (US$/lb)

$1,400

$18.00

$3.50

$1.00

* Exceptions: US$1,300 per ounce of gold used for Detour Lake; US$1,350 per ounce of gold used for Hope Bay and Hammond Reef; US$1,200 per ounce of gold and US$2.75 per pound of copper used for Upper Beaver; US$1,300 per ounce of gold, US$20.00 per ounce of silver, US$3.00 per pound of copper and US$1.10 per pound of zinc used for San Nicolás.

Mines / Projects

Metal Price for Mineral Resource Estimation*

Gold

(US$/oz)

Silver

(US$/oz)

Copper

(US$/lb)

Zinc

(US$/lb)

Operating mines and pipeline projects

$1,650

$22.50

$3.75

$1.25

* Exceptions: US$1,500 per ounce of gold used for Detour Lake, Northern Territory and Holt complex; US$1,300 per ounce of gold used for Detour Zone 58N; US$1,400 per ounce of gold used for Canadian Malartic, US$1,688 per ounce of gold used for Hope Bay, Santa Gertrudis and Hammond Reef; US$1,667 per ounce of gold used for Upper Canada, El Barqueño; US$1,200 per ounce of gold and US$2.75 per pound of copper used for Upper Beaver; US$1,533 per ounce of gold used for Barsele; US$500 per ounce of gold used for Aquarius, US$22.67 per ounce of silver used for El Barqueño; US$1,687 per ounce of gold used for Anoki-McBean and Tarachi; US$25.00 per ounce of silver used for Santa Gertrudis; US$1,300 per ounce of gold, US$20.00 per ounce of silver, US$3.00 per pound of copper and US$1.10 per pound of zinc used for San Nicolás.

Exchange rates*

C$ per US$1.00

Mexican peso per US$1.00

AUD per US$1.00

US$ per €1.00

$1.30

MXP18.00

AUD1.36

EUR1.10

* Exceptions: exchange rate of CAD$1.25 per US$1.00 used for Upper Beaver, Upper Canada, Holt complex and Detour Zone 58N; CAD$1.11 per US$1.00 used for Aquarius; US$1.00 per EUR $1.15 used for Barsele; MXP17.00 per US$1.00 used for Tarachi.

The above metal price assumptions are below the three-year historic average (from January 1, 2021 to December 31, 2023) of approximately $1,853 per ounce of gold, $23.50 per ounce of silver, $4.03 per pound of copper and $1.38 per pound of zinc.

Mineral reserves are reported exclusive of mineral resources. Tonnage amounts and contained metal amounts set out in this table have been rounded to the nearest thousand, so may not aggregate to equal column totals. Mineral reserves are in-situ, taking into account all mining recoveries, before mill or heap leach recoveries. Underground mineral reserves and measured and indicated mineral resources are reported within mineable shapes and include internal and external dilution. Inferred mineral resources are reported within mineable shapes and include internal dilution. Mineable shape optimization parameters may differ for mineral reserves and mineral resources.

The mineral reserves and mineral resources tonnages reported for silver, copper and zinc are a subset of the mineral reserves and mineral resources tonnages for gold. The Company's economic parameters set the maximum price allowed to be no more than the lesser of the three‐year moving average and current spot price, which is a common industry standard. Given the current commodity price environment, Agnico Eagle continues to use more conservative gold and silver prices.

NI 43-101 requires mining companies to disclose mineral reserves and mineral resources using the subcategories of "proven mineral reserves", "probable mineral reserves", "measured mineral resources", "indicated mineral resources" and "inferred mineral resources". Mineral resources that are not mineral reserves do not have demonstrated economic viability.

A mineral reserve is the economically mineable part of a measured and/or indicated mineral resource. It includes diluting materials and allowances for losses, which may occur when the material is mined or extracted and is defined by studies at pre-feasibility or feasibility level as appropriate that include application of modifying factors. Such studies demonstrate that, at the time of reporting, extraction could reasonably be justified. The mineral reserves presented in this news release are separate from and not a portion of the mineral resources.

Modifying factors are considerations used to convert mineral resources to mineral reserves. These include, but are not restricted to, mining, processing, metallurgical, infrastructure, economic, marketing, legal, environmental, social and governmental factors.

A proven mineral reserve is the economically mineable part of a measured mineral resource. A proven mineral reserve implies a high degree of confidence in the modifying factors. A probable mineral reserve is the economically mineable part of an indicated and, in some circumstances, a measured mineral resource. The confidence in the modifying factors applied to a probable mineral reserve is lower than that applied to a proven mineral reserve.

A mineral resource is a concentration or occurrence of solid material of economic interest in or on the Earth's crust in such form, grade or quality and quantity that there are reasonable prospects for eventual economic extraction. The location, quantity, grade or quality, continuity and other geological characteristics of a mineral resource are known, estimated or interpreted from specific geological evidence and knowledge, including sampling.

A measured mineral resource is that part of a mineral resource for which quantity, grade or quality, densities, shape and physical characteristics are estimated with confidence sufficient to allow the application of modifying factors to support detailed mine planning and final evaluation of the economic viability of the deposit. Geological evidence is derived from detailed and reliable exploration, sampling and testing and is sufficient to confirm geological and grade or quality continuity between points of observation. An indicated mineral resource is that part of a mineral resource for which quantity, grade or quality, densities, shape and physical characteristics are estimated with sufficient confidence to allow the application of modifying factors in sufficient detail to support mine planning and evaluation of the economic viability of the deposit. Geological evidence is derived from adequately detailed and reliable exploration, sampling and testing and is sufficient to assume geological and grade or quality continuity between points of observation. An inferred mineral resource is that part of a mineral resource for which quantity and grade or quality are estimated on the basis of limited geological evidence and sampling. Geological evidence is sufficient to imply but not verify geological and grade or quality continuity.

Investors are cautioned not to assume that part or all of an inferred mineral resource exists, or is economically or legally mineable.

A feasibility study is a comprehensive technical and economic study of the selected development option for a mineral project that includes appropriately detailed assessments of applicable modifying factors, together with any other relevant operational factors and detailed financial analysis that are necessary to demonstrate, at the time of reporting, that extraction is reasonably justified (economically mineable). The results of the study may reasonably serve as the basis for a final decision by a proponent or financial institution to proceed with, or finance, the development of the project. The confidence level of the study will be higher than that of a pre-feasibility study.

Additional Information

Additional information about each of the Company's material mineral projects as at December 31, 2023, including information regarding data verification, key assumptions, parameters and methods used to estimate mineral reserves and mineral resources and the risks that could materially affect the development of the mineral reserves and mineral resources required by sections 3.2 and 3.3 and paragraphs 3.4(a), (c) and (d) of NI 43-101 can be found in the Company's AIF and MD&A filed on SEDAR each of which forms a part of the Company's Form 40-F filed with the SEC on EDGAR and in the following technical reports filed on SEDAR in respect of the Company's material mineral properties: NI 43-101 Technical Report of the LaRonde complex in Québec, Canada (March 24, 2023); NI 43-101 Technical Report Canadian Malartic Mine, Québec, Canada (March 25, 2021); Technical Report on the Mineral Resources and Mineral Reserves at Meadowbank Gold complex including the Amaruq Satellite Mine Development, Nunavut, Canada as at December 31, 2017 (February 14, 2018); the Updated Technical Report on the Meliadine Gold Project, Nunavut, Canada (February 11, 2015); the Detour Lake Operation, Ontario, Canada NI 43-101 Technical Report as at July 26, 2021 (October 15, 2021); and the Updated NI 43-101 Technical Report Fosterville Gold Mine in the State of Victoria, Australia as at December 31, 2018 (April 1, 2019).

APPENDIX

Recent Selected Exploration Drill Results

LZ5 mine at LaRonde complex

Drill hole

Mine / zone

From
(metres)

To

(metres)

Depth of
midpoint
below surface
(metres)

Estimated
true
width (metres)

Gold
grade
(g/t)
(uncapped)

Gold
grade
(g/t)
(capped)*

BZ-2023-007

LZ5

865.4

898.0

686

24.8

1.8

1.8

BZ-2023-007A

LZ5

834.0

866.0

627

26.4

3.0

3.0

BZ-2022-026

LZ5

982.9

1009.1

857

16.8

2.1

2.1

*Results from LZ5 mine use a capping factor of 30 g/t gold.

W Zone at Goldex

Drill hole

From
(metres)

To
(metres)

Depth of
midpoint
below surface
(metres)

Estimated true
width
(metres)

Gold grade

(g/t)
(uncapped)

Gold grade
(g/t)
(capped)*

GD27-053

387.0

475.5

476

35.0

1.2

1.2

GD27-056

676.5

777.0

591

45.0

1.5

1.5

GD27-063

516.0

618.0

607

42.0

1.1

1.1

*Results from W Zone at Goldex use a capping factor of 50 g/t gold.

East Gouldie deposit, Odyssey South deposit and Odyssey internal zones at Odyssey mine

Drill hole

Deposit / Zone

From
(metres)

To
(metres)

Depth of
midpoint
below surface
(metres)

Estimated
true width
(metres)

Gold grade
(g/t)
(uncapped)

Gold grade
(g/t)
(capped)*

MEV23-269

East Gouldie

489.8

492.8

351

3.0**

5.1

5.1

MEV23-275RR

East Gouldie

578.0

582.5

497

4.5**

5.4

5.4

MEV23-281

East Gouldie

444.0

452.0

396

8.0**

13.7

6.1

MEV23-293

Odyssey South

714.5

722.1

383

6.8

4.2

4.2

MEX22-251RWZ

East Gouldie

1,774.3

1,835.3

1,659

50.0

2.3

2.2

MEX23-285

East Gouldie

973.4

978.8

853

5.4**

4.7

4.7

MEX23-289

East Gouldie

666.7

679.6

420

12.8**

5.2

5.2

MEX23-300

East Gouldie

1,138.0

1,146.5

1,067

6.4

4.2

4.2

MEX23-304

East Gouldie

1,564.5

1,581.1

1,355

15.9

5.0

5.0

MEX23-304Z

East Gouldie

1,565.0

1,572.1

1,299

6.7

6.2

6.2

MEX23-305Z

East Gouldie

1,824.7

1,839.0

1,467

13.5

6.7

6.7

MEX23-306

East Gouldie

692.5

696.3

578

3.3

6.1

6.1

and

East Gouldie

724.0

729.0

605

4.5

7.0

6.7

and

East Gouldie

871.3

876.3

725

4.5

12.8

11.7

UGOD-016-176

Odyssey internal

346.5

359.1

478

12.6**

6.8

6.8

UGOD-016-188

Odyssey S, Odyssey int, EG

271.0

310.6

344

39.6**

3.4

3.2

UGOD-016-190

Odyssey South

264.0

277.5

307

13.5**

3.2

3.2

and

East Gouldie

287.5

298.5

315

11.0**

10.3

7.6

and

Odyssey internal

326.8

331.6

328

4.8**

5.9

5.9

UGOD-016-198

East Gouldie

325.0

330.5

330

5.4**

3.9

3.9

UGOD-016-199

Odyssey internal

361.5

375.8

374

14.3**

3.0

3.0

UGOD-036-002

East Gouldie

101.0

105.4

395

4.3**

3.1

3.1

and

Odyssey internal

143.0

149.5

410

6.5**

14.0

4.9

UGOD-036-003

East Gouldie

174.5

200.0

466

25.5**

3.7

2.9

and

East Gouldie

309.5

328.0

544

18.5**

2.7

2.7

*Results from East Gouldie, Odyssey internal zones and Odyssey South use a capping factor of 20 g/t gold.

**Core length

Wasamac, Francoeur and Wildcat deposits at Wasamac project

Drill hole

Deposit / Zone

From
(metres)

To
(metres)

Depth of
midpoint
below
surface
(metres)

Estimated true
width (metres)

Gold grade
(g/t)
(uncapped)

Gold grade
(g/t)
(capped)*

FS23-129

Francoeur

374.6

379.9

324

5.3**

4.5

4.5

WS23-634

Wasamac

526.1

530.1

484

3.9

4.4

4.4

WS23-653

Wildcat

387.6

393.0

267

5.4**

3.4

3.4

WS23-661

Wildcat

44.9

65.5

44

20.6**

3.6

3.6

and

Wildcat

157.8

162.0

123

4.1**

5.6

5.6

WS23-663

Wasamac

599.0

620.1

565

18.8

2.8

2.8

WS23-666

Wasamac

620.5

636.0

590

13.4**

4.9

4.9

*Results from Wasamac project use a capping factor of 30 g/t gold.

**Core length

West Pit and West Pit Extension zones at Detour Lake

Drill hole

Zone

From

(metres)

To

(metres)

Depth of
midpoint
below
surface
(metres)

Estimated
true width

 (metres)

Gold grade
(g/t)
(uncapped)*

DLM23-727W

West Pit Extension

980.0

983.0

896

2.7

5.4

DLM-23-730W

West Pit

393.0

399.1

319

5.6

11.4

DLM-23-733A

West Pit Extension

602.0

617.1

545

12.6

18.3

DLM-23-735

West Pit Extension

260.7

287.0

236

22.4

6.0

and

West Pit Extension

305.5

314.0

265

7.3

6.4

and

West Pit Extension

331.0

334.0

284

2.7

11.7

DLM-23-745

West Pit Extension

317.0

320.0

285

2.7

10.0

and

West Pit Extension

370.0

373.0

332

2.7

32.2

DLM-23-747

West Pit Extension

1,157.0

1,160.0

1,030

2.7

7.8

DLM-23-757

West Pit

283.3

334.2

233

47.2

2.7

including


283.3

297.7

220

13.3

6.5

DLM-23-763A

West Pit Extension

631.0

634.0

559

2.7

21.9

and

West Pit Extension

824.0

835.0

723

9.4

3.7

DLM-23-767

West Pit Extension

464.9

474.0

420

7.4

24.8

DLM-23-773

West Pit Extension

1,010.2

1,013.2

845

2.7

19.3

DLM-23-774A

West Pit Extension

1,188.5

1,192.0

999

3.3

8.7

DLM-23-775

West Pit Extension

343.0

361.0

307

16.6

5.4

DLM-23-779

West Pit Extension

959.0

962.0

855

2.7

5.9

DLM-23-783

West Pit Extension

912.0

915.2

795

2.8

13.2

*Results from Detour Lake are uncapped.

SMC, Main Break and AK zones at Macassa complex

Drill hole

Zone

From
(metres)

To

(metres)

Depth of midpoint

below

surface (metres)

Estimated

true

width

(metres)

Gold grade

(g/t)

(uncapped)

Gold grade
(g/t)

(capped)*

53-4782

SMC East

123.8

125.8

1,664

1.9

43.0

43.0

53-4813A

SMC East

129.4

131.4

1,698

1.9

40.4

35.6

57-1394

SMC Lower

199.4

201.4

1,827

1.9

78.9

70.3

57-1417

SMC Lower

199.0

201.0

1,783

2.0

37.0

37.0

57-1442

SMC Lower

162.0

164.0

1,846

1.9

101.7

67.6

57-1445

SMC Lower

135.0

137.0

1,879

1.5

90.9

69.6

and

SMC Lower

162.0

164.0

1,884

1.5

110.4

110.4

57-1460

SMC Lower

244.9

246.9

1,964

1.7

43.6

43.6

57-1465A

SMC Lower

222.3

224.3

1,941

2.0

40.3

40.3

58-892

Main Break (110)

320.6

322.7

2,122

1.3

88.1

16.7

58-894

Main Break (110)

268.8

271.0

2,086

1.3

44.8

25.1

58-920

Main Break (110)

192.7

196.8

2,000

3.2

186.3

39.6

and

Main Break (110)

199.0

203.4

2,007

3.3

50.1

50.1

KLAK-239

AK

117.7

120.9

278

3.1

17.9

17.9

KLAK-242

AK

129.8

134.5

319

4.4

21.8

21.8

KLAK-245

AK

155.1

160.6

365

5.0

32.4

25.0

KLAK-249

AK

171.5

174.2

400

1.9

25.1

18.5

KLAK-261

AK

164.6

169.2

318

4.3

17.1

12.2

*Results from the Macassa mine use a capping factor ranging from 68.6 g/t to 445.7 g/t gold depending on the zone. Results from AK use a capping factor of 70 g/t gold.

Pump North, Tiriganiaq, Wesmeg and Wesmeg North deposits at Meliadine

Drill hole

Deposit

Lode / zone

From

(metres)

 To

(metres)

Depth of

midpoint

below

surface

(metres) 

Estimated

true width

(metres)

Gold grade

(g/t) 

(uncapped)

 Gold grade

(g/t)

(capped)*

M23-3577A

Pump North

3430

408.1

411.9

361

3.6

16.1

16.1

and

Pump North

3425

435.3

439.8

383

4.3

10.8

10.8

M23-3580

Pump North

3510

492.6

499.0

437

5.8

5.0

5.0

and

Pump North

3430

516.3

521.8

455

5.1

4.7

4.7

M23-3595

Pump North

3520

340.5

345.1

305

3.9

12.1

10.7

M23-3596

Pump North

3510

241.1

246.2

210

4.9

10.8

10.8

and

Pump North

3435

253.5

260.5

220

6.7

4.5

4.5

including



253.5

256.9

220

3.3

8.3

8.3

M23-3615

Tiriganiaq

1025

197.0

204.8

160

7.0

9.0

9.0

M23-3760

Tiriganiaq

1050

323.0

327.0

299

3.0

6.0

6.0

ML425-9563-D3

Tiriganiaq

1360

156

160.0

468

3.7

20.2

8.3

ML425-9563-D21

Tiriganiaq

1000

341

344.5

757

3.1

11.4

11.4

ML425-9740-D29

Tiriganiaq

1000

363.2

367.6

455

3.6

13.4

13.4

M23-3651

Wesmeg

600

420.5

430.8

372

9.3

6.5

6.5

M23-3659

Wesmeg

650

375.6

380.0

351

3.7

9.4

9.4

ML300-10340-D2

Wesmeg

625

328.0

332.0

494

3.9

13.1

11.4

ML400-10200-F1

Wesmeg

650

308.4

312.4

396

3.7

15.4

15.4

and

Wesmeg

625

339.6

343.1

402

3.3

12.6

12.6

M23-3655

Wesmeg North

953

75.8

80.2

63

3.8

12.2

5.2

ML250-9325-U3

Wesmeg North

947

54.8

59.3

206

2.9

261.3

23.3

ML300-10340-D1

Wesmeg North

972

262.8

272.0

519

7.9

9.9

7.5

ML300-10340-D4

Wesmeg North

972

222.1

235.1

467

11.7

6.1

6.1

including



223.6

228.5

465

4.4

11.2

11.2

ML300-10340-D6

Wesmeg North

973

32.9

38.7

303

5.3

462.3

11.1

ML500-8994-D5

Wesmeg North

912

82.6

88.5

545

5.2

8.1

8.1

and

Wesmeg North

930

91.0

98.4

553

6.5

6.5

6.5

including



91.0

96.6

553

4.9

7.9

7.9

*Results from Meliadine use a capping factor ranging from 20 g/t to 90 g/t gold depending on the zone.

Whale Tail and IVR deposits at Amaruq

Drill hole

Deposit

From
(metres)

To
(metres)

Depth of
midpoint
below
surface
(metres)

Estimated
true width
(metres)

Gold grade
(g/t)
(uncapped)

Gold grade
(g/t)
(capped)*

AMQ22-2902

Whale Tail

123.7

127.7

95

3.9

49.5

23.1

AMQ22-2911

Whale Tail

99.0

112.0

90

11.2

5.1

5.1

AMQ23-2946A

Whale Tail

585.5

596.7

552

7.1

8.4

8.4

AMQ23-2949

Whale Tail

567.0

575.3

491

5.5

25.3

17.5

AMQ23-2960A

Whale Tail

600.5

606.3

562

2.6

5.3

5.3

AMQ23-2960A

Whale Tail

705.5

715.0

662

6.1

6.9

6.9

AMQ23-2978

Whale Tail

76.5

88.0

61

10.8

7.1

7.1

AMQ23-3023

Whale Tail

91.2

103.5

77

8.7

6.8

6.8

AMQ23-3034

Whale Tail

641.1

650.0

503

6.8

3.8

3.8

AMQ23-3043B

Whale Tail

700.7

707.9

595

6.7

4.9

4.9

AMQ23-3046

Whale Tail

638.2

642.0

554

2.4

7.4

7.4

AMQ-350-006

Whale Tail

160.4

175.5

485

9.0

6.8

5.5

including

Whale Tail

167.4

175.5

491

4.8

11.7

9.4

AMQ23-3062

IVR

993.2

1012.4

901

17.4

5.1

5.1

including

IVR

1001.1

1004.6

901

3.2

10.0

10.0

AMQ23-3064A

IVR

1054.8

1061.6

967

5.2

6.3

6.3

including

IVR

1054.8

1058.2

966

2.6

11.0

11.0

and

IVR

1067.0

1076.1

979

6.4

17.2

11.3

and

IVR

1098.7

1125.7

1013

9.2

7.5

4.4

*Results from Amaruq mine use capping factors ranging from 10 g/t to 100 g/t gold depending on the zone.

Madrid deposits at Hope Bay

Drill hole

Zone

From
(metres)

To
(metres)

Depth of
midpoint
below
surface
(metres)

Estimated
true width
(metres)

Gold grade

(g/t)
(uncapped)

Gold grade

(g/t)

(capped)*

HBM23-074

Madrid North / Naartok

1,012.0

1,015.0

706

3.0

12.1

12.1

HBM23-075

undefined

377.0

377.9

242

0.5

54.2

50.0

HBM23-080

Patch 7

538.0

545.9

423

6.9

5.4

5.4

including


538.9

539.9

423

0.9

13.8

13.8

HBM23-085

Patch 7

413.6

431.0

326

15.8

4.6

4.6

including


421.0

424.0

326

2.0

8.6

8.6

HBM23-092

Patch 7

213.7

225.6

120

9.1

5.1

5.1

HBM23-097A

Patch 7

438.0

451.8

294

12.0

4.8

4.8

HBM23-108

Patch 7

525.7

529.9

387

3.0

30.9

22.5

and

Patch 7

690.4

699.1

515

7.5

7.1

7.1

including


694.0

696.0

515

1.7

16.5

16.5

HBM23-109**

Patch 7

734.0

740.5

609

4.6

15.9

15.9

HBM23-119

Patch 7

888.2

891.5

568

1.4

35.4

33.7

HBM23-120

Patch 7

797.8

802.9

618

4.4

7.6

7.6

HBM23-132

Patch 7

675.0

682.3

460

4.4

5.0

5.0

including


677.3

682.3

460

3.0

5.8

5.8

and

Patch 7

774.0

778.0

530

2.3

5.9

5.9

HBM23-134

Patch 7

1,029.0

1,038.0

632

6.4

5.4

5.4

including


1,033.2

1,037.5

632

3.0

8.8

8.8

HBM23-140

Suluk

874.4

880.0

677

4.6

26.3

12.7

including


875.3

876.3

677

0.8

126.0

50.0

HBM23-143

Patch 7

560.4

594.0

385

28.6

17.6

16.3

including


560.4

587.2

385

22.8

20.8

19.1

*Results from Madrid-area deposits at Hope Bay use a capping factor of 50 g/t gold.

**Previously released.


Fosterville

Drill hole

Zone

From
(metres)

To

(metres)

Depth of
midpoint
below surface
(metres)

Estimated

true width
(metres)

Gold grade
(g/t)
(uncapped)*

RHD520

Hoffman

737.5

744.4

555

6.5

5.5

UDH4490

Hoffman

149.1

158.9

639

9.7

5.2

UDR047

Hoffman

416.6

428.0

574

6.0

5.0

UDH4580A

Wu

228.5

230.5

636

2.0

301.4

UDH4631

Curie

292.6

297.6

837

4.9

11.3

UDH4683

Pen

374.5

376.9

1,592

2.4

10.7

UDH4723

Cardinal

295.5

296.5

1,698

1.0

290.3

UDH4724F

Cardinal

314.8

320.4

1,734

4.6

32.6

UDH4727A

Swan

433.6

436.2

1,862

2.4

8.1

UDH4729B

Cardinal

347.3

351.8

1,773

3.7

69.1

including

Cardinal

347.3

349.8

1,772

2.1

120.0

UDH4761

Cardinal

386.8

398.9

1,828

10.0

10.8

UDH4766A

Curie

413.7

424.1

545

9.2

6.4

UDH4767A

Curie

397.3

415.5

524

11.7

6.2

UDH4767B

Curie

451.5

458.0

517

5.4

9.1

UDH4779

Wu

216.3

223.7

868

6.9

8.3

UDH4781D

Pen

410.9

417.0

1,698

6.1

6.2

UDH4782A

Pen

390.7

392.7

1,631

2.0

21.7

UDH4807

Curie

371.2

384.1

566

10.6

6.7

UDH4834

Curie

89.1

95.6

566

5.6

149.6

UDH4859

Peregrine

229.0

239.1

1,166

8.3

17.3

*Results from the Fosterville mine are uncapped.

Recent selected exploration drill results from Main, Sisar and East zones at Kittila

Drill hole

Zone / Area

From

(metres)

To

(metres)

Depth of
midpoint below
surface (metres)

Estimated

true width

(metres)

Gold grade

(g/t)
(uncapped)*

RIE23-618

Main Rimpi

180.2

195.3

1,089

7.1

3.1

RIE23-619

Main Rimpi

127.9

135.6

1,110

5.8

4.4

RIE23-630

Main Rimpi

430.4

436.0

1,059

4.7

5.1

ROD23-700D

Main Roura

163.6

179.0

1,154

4.2

7.8

and

Main Roura

189.0

216.0

1,181

3.3

3.4

RUG23-515

Sisar Central

236.0

262.0

1,133

19.8

7.0

including


236.0

246.4

1,130

7.8

12.8

including


236.0

241.5

1,129

4.1

18.8

RUG23-527

Sisar Top

134.0

138.5

970

3.8

6.3

SUU23-001

Suuri East

168.9

171.7

158

2.7

4.3

SUU23-004**

Suuri East

221.1

231.6

208

9.9

11.8

including


221.1

226.2

206

4.8

18.2

SUU23-008

Suuri East

277.5

285.4

204

7.8

11.5

including


281.0

284.7

205

3.7

20.5

SUU23-606

Main Suuri

90.0

98.8

506

5.9

10.0

SUU23-700C

Main Suuri

529.0

539.0

935

3.8

3.4

* Results from the Kittila mine are uncapped.

** Previously released in news release dated October 25, 2023.

Pinos Altos Deep project at Pinos Altos

Drill hole

From (m)

To

(m)

Depth of midpoint
below surface

(m)

Estimated
true width (m)

Gold grade
(g/t) (uncapped)

Gold grade
(g/t) (capped)*

Silver grade
(g/t) (uncapped)

Silver grade
(g/t) (capped)*

US23-299

86.4

94.0

254

6.9

4.9

4.9

228

193

*Results from the Pinos Altos Deep project at Pinos Altos mine use a capping factor of 10 g/t gold and 200 g/t silver.

EXPLORATION DRILL COLLAR COORDINATES

Drill hole

UTM East*

UTM North*

Elevation
(metres above
sea level)

Azimuth
(degrees)

Dip

(degrees)

Length
(metres)

LaRonde

BZ-2023-007

686850

5346926

310

27

-59

969

BZ-2023-007A

686850

5346926

310

27

-59

984

BZ-2022-026

686853

5346929

310

14

-68

1,119

Goldex

GD27-053

5330643

286120

74

315

-33

770

GD27-056

5330643

286120

74

307

-30

879

GD27-063

5330550

286169

78

314

-42

855

Odyssey mine

MEV23-269 

718113

5334737

308

212

-46

617

MEV23-275RR 

718114

5334738

308

202

-60

720

MEV23-281 

718114

5334738

308

218

-62

745

MEV23-293 

717593

5333787

346

356

-46

826

MEX22-251RWZ 

717440

5334731

309

180

-73

1,951

MEX23-285 

719131

5333940

334

193

-73

1,500

MEX23-289 

718764

5333640

325

150

-48

810

MEX23-300 

717932

5333791

349

154

-80

1,476

MEX23-304 

716873

5334696

316

176

-72

1,650

MEX23-304Z 

716873

5334696

316

176

-72

2,235

MEX23-305Z 

718665

5334762

307

171

-58

2,238

MEX23-306 

717930

5333792

351

162

-69

1,203

UGOD-016-176 

718093

5334095

109

29

-52

360

UGOD-016-188 

718093

5334095

108

6

-32

345

UGOD-016-190 

718092

5334095

109

355

-27

349

UGOD-016-198 

718093

5334095

108

343

-27

351

UGOD-016-199 

718093

5334095

108

344

-32

390

UGOD-036-002 

718297

5334457

-49

233

-19

324

UGOD-036-003 

718297

5334457

-49

233

-33

354

Wasamac

FS23-129

630342

5340682

302

208

-63

474

WS23-634

635341

5342130

300

189

-68

639

WS23-653

634200

5340676

302

325

-48

513

WS23-661

633974

5340851

305

120

-50

276

WS23-663

634930

5342212

296

168

-69

705

WS23-666

634929

5342203

295

179

-71

696

Detour Lake

DLM23-727W

585755

5542265

291

186

-70

1,099

DLM-23-730W

588487

5541631

287

179

-56

921

DLM-23-733A

586562

5541903

292

181

-68

1,002

DLM-23-735

587048

5541650

292

177

-62

402

DLM-23-745

586807

5541699

292

176

-65

750

DLM-23-747

584911

5542490

294

186

-65

1,281

DLM-23-757

588406

5541686

288

180

-51

852

DLM-23-763A

586001

5542167

294

187

-66

1,017

DLM-23-767

586565

5541811

288

179

-67

804

DLM-23-773

585251

5542447

292

191

-57

1,260

DLM-23-774A

586798

5542340

297

187

-68

1,401

DLM-23-775

586966

5541687

294

177

-64

923

DLM-23-779

585513

5542400

292

189

-64

1,148

DLM-23-783

584993

5542320

292

186

-62

1,144

Macassa

53-4782

570496

5332202

-1,257

310

-33

457

53-4813A

570532

5332235

-1,257

303

-51

381

57-1394

568634

5331208

-1,405

332

-27

229

57-1417

568634

5331208

-1,405

330

-15

302

57-1442

568508

5331128

-1,404

341

-45

290

57-1445

568592

5331180

-1,406

315

-75

280

57-1460

568508

5331127

-1,404

351

-73

290

57-1465A

568507

5331128

-1,404

329

-56

290

58-892

569895

5332098

-1,517

341

-53

366

58-894

569895

5332098

-1,517

354

-57

411

58-920

569830

5332122

-1,510

4

-51

290

KLAK-239

570185

5331352

49

157

6

165

KLAK-242

570185

5331352

48

166

-12

165

KLAK-245

570185

5331352

48

171

-27

174

KLAK-249

570184

5331352

47

172

-40

244

KLAK-261

570236

5331387

41

166

-13

198

Meliadine

M23-3577A

540061

6987388

10062

205

-68

683

M23-3580

539974

6987573

10062

217

-68

802

M23-3595

539927

6987395

10062

202

-65

426

M23-3596

540033

6987232

10062

202

-65

327

M23-3615

540945

6988519

66

182

-61

222

M23-3760

541085

6988595

10061

152

-76

430

ML425-9563-D3

539563

6988914

-406

202

-25

340

ML425-9563-D21

539563

6988914

-406

221

-64

402

ML425-9740-D29

539732

6988907

-393

130

-48

425

M23-3651

540416

6988218

66

150

-68

501

M23-3659

540325

6988260

68

189

-78

501

ML300-10340-D2

540339

6988412

-213

159

-44

416

ML400-10200-F1

540213

6988459

-317

155

5

411

M23-3655

540415

6988218

60

166

-61

450

ML250-9325-U3

539326

6988357

-163

157

21

120

ML300-10340-D1

540339

6988412

9787

169

-71

470

ML300-10340-D4

540339

6988412

-213

157

-59

429

ML300-10340-D6

540339

6988412

9787

147

-53

450

ML500-8994-D5

538994

6988497

-413

144

-56

126

Meadowbank

AMQ22-2902

606183

7255178

157

184

-51

168

AMQ22-2911

606025

7255091

158

144

-60

158

AMQ23-2946A

607423

7255666

163

336

-70

765

AMQ23-2949

607321

7255574

161

315

-62

639

AMQ23-2960A

607424

7255666

163

353

-72

762

AMQ23-2978

605670

7255055

152

158

-50

183

AMQ23-3023

606012

7255076

158

190

-56

120

AMQ23-3034

606379

7255680

164

150

-52

672

AMQ23-3043B

606266

7255618

171

151

-61

728

AMQ23-3046

606377

7255678

164

136

-63

819

AMQ-350-006

606993

7255569

-179

329

-67

263

AMQ23-3062

607964

7255950

164

319

-72

1,069

AMQ23-3064A

607963

7255947

165

289

-74

1,164

Hope Bay

HBM23-074

434030

7551358

26

254

-55

1,119

HBM23-075

434251

7548686

50

71

-60

1,206

HBM23-080

435172

7547914

26

83

-67

668

HBM23-085

435194

7548007

26

86

-73

617

HBM23-092

435255

7547861

27

75

-55

480

HBM23-097A

435210

7547932

26

76

-59

564

HBM23-108

435013

7547841

37

82

-67

846

HBM23-109

434896

7547948

33

65

-72

987

HBM23-119

434253

7548620

48

73

-54

1,356

HBM23-120

434747

7548286

32

63

-65

999

HBM23-132

435939

7547823

34

246

-53

949

HBM23-134

434251

7548686

50

70

-50.2

1,168

HBM23-140

434321

7549059

55

65

-62.1

1,185

HBM23-143

434835

7548158

33

79

-54.5

855

Fosterville

RHD520

2,995

11,363

5,155

58

-60

782

UDH4490

2,903

12,379

4,521

65

-42

185

UDR047

3,025

11,316

4,670

62

-18

498

UDH4580A

2,907

12,318

4,524

98

-69

375

UDH4631

2,978

12,054

4,556

55

-55

334

UDH4683

1,489

5,753

3,818

44

-48

386

UDH4723

1,547

5,133

3,719

59

-64

368

UDH4724F

1,547

5,132

3,719

74

-70

389

UDH4727A

1,547

5,133

3,719

66

-77

462

UDH4729B

1,547

5,131

3,719

104

-73

419

UDH4761

1,544

5,071

3,710

102

-75

465

UDH4766A

2,999

11,761

4,603

54

1

470

UDH4767A

2,999

11,761

4,603

47

1

461

UDH4767B

2,999

11,761

4,603

47

1

464

UDH4779

2,937

12,241

4,500

53

-72

236

UDH4781D

1,489

5,753

3,818

62

-62

423

UDH4782A

1,487

5,753

3,818

71

-54

395

UDH4807

2,999

11,760

4,603

66

-3

420

UDH4834

3,260

12,505

4,561

220

21

124

UDH4859

1,581

6,140

4,041

118

-15

260

Kittila

RIE23-618

2558692

7539405

-866

27

0

315

RIE23-619

2558692

7539405

-867

55

-10

600

RIE23-630

2558639

7539599

-710

75

-20

582

ROD23-700D

2558703

7537464

-786

90

-60

918

RUG23-515

2558697

7537320

-787

84

-35

281

RUG23-527

2558775

7537865

-725

66

-11

151

SUU23-001

2558898

7536854

208

270

-59

282

SUU23-004

2558935

7536649

207

267

-60

330

SUU23-008

2559042

7536579

206

269

-46

395

SUU23-606

2558532

7536222

-241

60

-31

458

SUU23-700C

2558513

7536218

-241

90

-65

1,023

Pinos Altos

US23-299

765353

3129882

1,966

180

-43

141

*Coordinate Systems: NAD 1983 UTM Zone 18N for Goldex; NAD 83 UTM Zone 17N for Odyssey, LaRonde and Wasamac; NAD 1983 UTM Zone 17N for Detour Lake, Macassa and AK; NAD 1983 UTM Zone 14N for Meliadine and Meadowbank; NAD 1983 UTM Zone 13N for Hope Bay; Mine grid including elevation for Fosterville, which is located in MGA94 Zone 55; Finnish Coordinate System KKJ Zone 2 for Kittila; and UTM NAD 27 for Pinos Altos.

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/agnico-eagle-provides-an-update-on-2023-exploration-results-and-2024-exploration-plans--mineral-reserves-up-10-5-year-over-year-to-54-moz-initial-mineral-reserves-of-5-2-moz-declared-at-east-gouldie-initial-underground-mineral-302063541.html

SOURCE Agnico Eagle Mines Limited

Copyright 2024 Canada NewsWire

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